Danish Shipping Co. Files For Ch. 15 In NY

Law360, New York (January 27, 2009, 12:00 AM EST) -- Danish shipping company Atlas Shipping A/S has asked a New York court to protect is U.S. assets while it undergoes bankruptcy proceedings in a Denmark court.

The company filed for Chapter 15 protection Friday in the U.S. Bankruptcy Court for the Southern District of New York. It seeks recognition of the Danish bankruptcy case as a foreign main proceeding and lists assets of between $10 and $50 million and debts of between $100 and $500 million.

Atlas filed for bankruptcy in the Maritime and Commercial Court...
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