OSG Floats Ch. 11 Plan Featuring Debt-for-Equity Swap
OSG's joint plan would see lenders owed $1.5 billion under a credit agreement receive the lion's share of newly issued stock, and also pay administrative and tax claims in full and provide a $935 million exit facility, among other things, according to documents filed in Delaware bankruptcy court.
“The debtors believe that the plan...
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