Marco Polo Survives Lenders' Bid To Sink Ch. 11 Case
By Hilary Russ
Law360, New York (October 21, 2011, 9:42 PM ET) -- A New York federal bankruptcy judge on Friday shot down an attempt by the Royal Bank of Scotland and Credit Agricole SA to get Netherlands-based international shipping company Marco Polo Seatrade BV's Chapter 11 case thrown out of court in the U.S.
But while U.S. Bankruptcy Judge James M. Peck is letting the overseas company continue its attempts to reorganize in his court for now, he warned that he had grave concerns about the state of the company and said the lenders can later revive their...