Oil Shipper Omega Navigation Slips Into Ch. 11
Stoved by recalcitrant lenders, the Athens, Greece-based tanker operator filed petitions for Omega Navigation and nine subsidiaries and vessels, citing more than $527 million in assets and roughly $360 million in liabilities.
Omega said that Chapter 11 remained the only viable way to deleverage after its senior lenders stonewalled out-of-court overtures.
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