Primorsk To Sell Tanker Fleet To Russian Firm For $215M

Law360, Wilmington (July 5, 2016, 7:37 PM EDT) -- Cyprus-based shipping firm Primorsk International Shipping Ltd. will ask on Thursday for court approval of the sale of its nine-ship tanker fleet to the largest shipping company in Russia for $215 million, completing the transfer of all its assets in a Chapter 11 auction.

Russia's largest shipping firm was the highest bidder in a Chapter 11 auction for the nine-vessel fleet of bankrupt firm Primorsk International Shipping Ltd. with an offer of $215 million for all of Primorsk's assets.

In court papers filed on Friday in...
To view the full article, register now.



Case Information

Case Title

Primorsk International Shipping Limited

Case Number



New York Southern

Nature of Suit

Date Filed

January 15, 2016

Law Firms


Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.