OSG Shareholders Win Bid To Push Back Ch. 11 Plan Pact

Law360, Wilmington (March 20, 2014, 9:15 PM EDT) -- A Delaware bankruptcy judge granted a request by Overseas Shipholding Group Inc. shareholders to delay consideration of a Chapter 11 plan support agreement between the oil tanker giant and its largest lenders, agreeing that the newly minted equity committee deserved time to get up to speed.

The official committee of equity security holders, formed Monday by the U.S. trustee, argued it would be inappropriate to approve the agreement before it had a chance to familiarize itself with the case.

“We need to get up to speed...
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