General Maritime Execs In Hot Seat Over Oaktree Deal

Law360, New York (February 7, 2012, 3:51 PM EST) -- A New York bankruptcy judge on Tuesday granted a request from General Maritime Corp.'s creditors committee to subpoena the oil tanker company's chairman, chief financial officer and others who negotiated a financing arrangement with private equity firm Oaktree Capital Management LP.

Creditors question a $200 million prepetition loan Oaktree gave General Maritime, saying they suspect the deal was designed to line the pocket of company chairman Peter C. Georgiopoulos. They said they needed to interview Georgiopoulos, General Maritime CFO Jeffrey D. Pribor and others to determine...
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