Excel Maritime, Creditors Agree On Revised Ch. 11 Plan

Law360, New York (November 25, 2013, 6:41 PM EST) -- Excel Maritime Carriers Ltd. has reached a deal with creditors it had been battling since the start of its bankruptcy that will allow it to move ahead on a consensual reorganization plan, according to court papers filed Friday.

Excel said it will file an amended reorganization plan backed by its creditors and prepetition secured lenders Tuesday and has scheduled a hearing on the plan's accompanying disclosure statement for Dec. 6. A hearing on the plan’s confirmation is set for Jan. 27.

The dry bulk shipping company...
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