Banks Try To Kick Marco Polo Bankruptcy Out Of US Court

Law360, New York (October 3, 2011, 7:28 PM EDT) -- Attorneys for lender Royal Bank of Scotland and another bank argued Monday that Dutch ship owner Marco Polo Seatrade BV's more than $200 million bankruptcy case should be booted from a New York bankruptcy court.

Marco Polo, which like other shipping companies has seen its fortunes fall as cargo rates have plummeted, should not be allowed to use a U.S. bankruptcy court to ride out the downturn in its business, attorneys for RBS and Credit Agricole SA contended at an all-day hearing.

Marco Polo and three...
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