TMT Accused Of Iranian Oil Trafficking By Ch. 11 Creditor
By Jeremy Heallen
Law360, Houston (November 1, 2013, 9:52 PM EDT) -- One of TMT Group’s largest creditors told a Texas bankruptcy judge on Friday that the company is putting its entire fleet at risk by secretly trafficking oil exports from Iran, saying the court should throw out TMT’s Chapter 11 case or appoint a trustee to protect the ships.
Cathay United Bank Co. Ltd. said in a brief filed late Friday that after TMT filed for bankruptcy in the U.S., one of its ships known as the M/V B Whale quietly rendezvoused with an Iranian tanker in...