US Bank Balks At OSG Call For Ch. 11 Exclusivity Extension

Law360, Wilmington (August 20, 2013, 5:56 PM EDT) -- The leader of a group that is the largest creditor in the Overseas Shipholding Group Inc. bankruptcy case took issue late Monday with the company's request to extend the time it can exclusively file a Chapter 11 plan, arguing a four-month delay will only heap on more costs.

U.S. Bank NA, which leads a lending group owed $1.5 billion, contends that all of the major roadblocks for the New York-based oil tanker giant to negotiate with its creditors have been removed since filing for bankruptcy protection...
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