Bankrupt OSG Sues BP Unit For Trying to Ditch Joint Venture

Law360, Wilmington (February 25, 2013, 7:28 PM EST) -- Overseas Shipholding Group Inc. filed a suit in Delaware bankruptcy court Monday seeking to block a BP PLC unit from pushing the bankrupt tanker giant out of a joint venture that transports BP’s crude oil from Alaska.

BP Oil Shipping Co. USA ignored the automatic stay in OSG’s bankruptcy last week when it announced plans to dissolve the joint venture, Alaska Tanker Co. LLC, without OSG’s consent, OSG claims in the adversary suit.

“Defendant’s decision to knowingly violate the automatic stay has led OSG to conclude...
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