Omega Lender HSH's Ch. 11 Dismissal Bid Denied

Law360, New York (December 21, 2011, 8:40 PM EST) -- A Texas bankruptcy judge on Monday denied HSH Nordbank AG's request to dismiss Greek oil shipper Omega Navigation Enterprises Inc.'s Chapter 11 bankruptcy proceeding or convert it into a liquidation and said she would consider sanctions against the lender.

In a sternly worded order to show cause, U.S. Bankruptcy Judge Karen K. Brown said the attempt by the HSH-led senior lenders, junior lenders and the unsecured creditors committee to disrupt the bankruptcy proceedings could result in sanctions like loss of voting rights, costs, attorneys' fees and...
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