Sea Containers Slips Into Bankruptcy

Law360 (October 16, 2006, 12:00 AM EDT) -- Sea Containers Ltd. and two subsidiaries filed for Chapter 11 bankruptcy protection on Sunday, the same day it missed a deadline for a $115 million bond payment.

According to court documents filed with the U.S. bankruptcy court in Wilmington, Del., the Bermuda-based passenger and freight transport company said a supervised reorganization would allow it to better restructure its debt and find a sustainable financial footing.

“Although we have not paid the Oct. 15 public notes, we are optimistic about the success of our restructuring program and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.