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...
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.