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Overseas Shipholding Group, Inc., Reorganized Debtors

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Case overview

Case Number:

1:12-bk-20000

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. April 07, 2014

    Bankrupt OSG Gets Nod For Ch. 11 Pact With Lenders

    A Delaware bankruptcy judge on Monday signed off on a plan support agreement between Overseas Shipholding Group Inc. and its largest lenders, marking a major milestone for the oil tanker giant as it seeks to reorganize in Chapter 11.

  2. March 07, 2014

    OSG Floats Ch. 11 Plan Featuring Debt-for-Equity Swap

    Overseas Shipholding Group Inc. submitted a Chapter 11 plan Friday that envisions the oil tanker giant and its subsidiaries emerging from bankruptcy as a reorganized entity owned primarily by its largest lenders.

  3. February 26, 2014

    OSG Shareholders Rip Deal To Support Ch. 11 Plan

    A group of Overseas Shipholding Group Inc. shareholders on Wednesday blasted an agreement between the bankrupt oil tanker giant and its largest lenders, claiming the deal locks in a Chapter 11 plan that benefits lenders at their expense.

  4. February 12, 2014

    Tanker Co. OSG Strikes Deal With Lenders On Ch. 11 Plan

    Overseas Shipholding Group Inc. said Wednesday that it had struck a deal with the majority of its largest lending group to support a Chapter 11 plan that would put the tanker company on course to exit bankruptcy and fully pay many of its claims.

  5. February 04, 2014

    Bankrupt Overseas Shipholding Floats $255M Tanker Sale

    Overseas Shipholding Group Inc. on Monday announced plans to sell five oil tankers for $255 million, a stalking horse deal designed to help the bankrupt shipping giant move ahead with its ultimate goal of restructuring in Chapter 11.

  6. January 21, 2014

    Proskauer Blasts Bankrupt OSG's Malpractice Claims

    Proskauer Rose LLP urged a Delaware bankruptcy court on Friday to throw out Overseas Shipholding Group Inc.'s malpractice suit, slamming allegations that the firm's advice cost the company millions of dollars in "avoidable" tax liabilities and contending that OSG provided Proskauer false information.

  7. December 10, 2013

    OSG Creditors Move To Curb Ch. 11 Exclusivity Extension

    Unsecured creditors of Overseas Shipholding Group Inc. urged a Delaware bankruptcy judge to limit a proposed extension of the Chapter 11 exclusivity period to no more than two months, saying Tuesday they intend to file their own plan if the oil tanker giant hasn't submitted one by then.

  8. November 18, 2013

    Proskauer Sued For Malpractice Over OSG's Tax Bill

    Bankrupt Overseas Shipholding Group Inc. filed an adversary complaint Monday accusing former counsel Proskauer Rose LLP of malpractice for allegedly giving the oil tanker company faulty advice it claims saddled it with hundreds of millions of dollars of "completely avoidable" tax liability.

  9. November 14, 2013

    Ex-OSG Execs Again Urge Judge To Ax Investor Claims

    Two former executives of Overseas Shipholding Group Inc. on Tuesday urged a New York federal judge to throw out, for good, an investor class action accusing them of hiding the company's $35 million tax debt that ultimately drove it into bankruptcy.

  10. October 10, 2013

    Bankrupt OSG To Sue Former Attys Over Faulty Advice

    Overseas Shipholding Group Inc. indicated on Tuesday in Delaware bankruptcy court that it may be suing its former attorneys over advice they provided, news that follows revelations that the tanker company's tax issues possibly span more than a decade.

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