Genco Wants Equity Holders Committee Disbanded

Law360, New York (May 14, 2014, 5:07 PM EDT) -- Several days after Genco Shipping & Trading Ltd.’s official committee of equity holders appealed the dry bulk cargo shipper’s restructuring agreement, Genco filed a motion of its own seeking to disband the committee, which it called unnecessary and wasteful.

Genco, which filed for bankruptcy in April, argued that the committee isn’t needed because it only consists of three equity holders — Mohawk Capital LLC, Aurelius Capital Partners LP and OZ Domestic Partners LP — all of which are bankruptcy-savvy strategic investment funds who don’t need an...
To view the full article, register now.