Overseas Shipholding Hit For $463M In Taxes As CEO Resigns

Law360, Wilmington (February 13, 2013, 3:14 PM EST) -- The Internal Revenue Service slapped bankrupt Overseas Shipholding Group Inc. with a $463 million claim for back taxes on Monday — the same day the oil tanker giant’s CEO resigned.

OSG, which entered Chapter 11 in Delaware in November, owes the government corporate income taxes for five separate years since 2004, including $200 million each in 2010 and 2011, according to a claim filed with Kurtzman Carson Consultants.

The tax bill was tabbed as an unsecured priority claim, though the documents did not explain the basis...
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