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CHAPTER 11 – De-mystifying the Process

The recent bankruptcy filings by Marco Polo Seatrade B.V., Omega Navigation Enterprises, Inc., General Maritime Corp. and Trailer Bridge Inc. have the industry buzzing about Chapter 11 of the United States Bankruptcy Code. Everyone talks about it, most (whether a potential debtor, lender, investor, contractual counterparty or other type of creditor) resist or fear it, yet few understand the process or how it can affect their business. The purpose of this article is to de-mystify the process by identifying select provisions of the Bankruptcy Code and the Chapter 11 process to provide you with a summary overview of what can happen in a Chapter 11 case.

This is only an excerpt of CHAPTER 11 – De-mystifying the Process

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Written by: | Categories: Marine Money | January 1st, 2012 |

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