DJ Shareholders Challenge Overseas Shipholding Chapter 11 DealFebruary 27, 2014 – In The News
Fox Rothschild was featured in the Dow Jones Newswires article, "DJ Shareholders Challenge Overseas Shipholding Chapter 11 Deal." Full text can be found in the February 27, 2014, issue, but a synopsis is noted below.
Shareholders say they are entitled to a bigger piece of a shipping company than they are being offered as one of the world’s largest tanker operators works its way through bankruptcy.
Two groups of investors filed protests with the U.S. Bankruptcy Court in Wilmington, Del., saying the company is advancing a “flawed” restructuring strategy and ignoring shareholder-backed proposals.
The group of investors is being represented by a team of attorneys from various bankruptcy law firms, including Jeffrey M. Schlerf of Fox Rothschild.