General Maritime's Ch. 11 Plan Omits Crucial Info: BNY Mellon

Law360, New York (February 21, 2012, 8:04 PM EST) -- General Maritime Corp. indenture trustee The Bank of New York Mellon Corp. said Tuesday that the bankrupt oil tanker operator's disclosure statement left out important information that could significantly reduce payments owed to the noteholders the bank represents.

BNY Mellon — which is indenture trustee for a series of 12 percent senior notes due in 2017 and one of General Maritime's largest creditors — filed the objection in New York bankruptcy court, protesting the debtor's motion for approval of its disclosure statement and procedures for soliciting...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.