Reed Smith Seeks 2nd Circ. Help Over Eletson Orders

By Emily Lever · October 1, 2025, 9:38 PM EDT

Reed Smith LLP has urged the Second Circuit to nix an order displacing the firm as counsel and requiring it to turn over client files for international shipping group Eletson Holdings...

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Bankruptcy Scorecard

Summary

Greek oil and gas shipper Eletson was forced into bankruptcy by a group of noteholders who said the company had stopped paying its debts. The creditors and the company have filed competing reorganization plans.

Case Number

23-bk-10322

Judge

Brendan L. Shannon

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

Eletson and the petitioning creditors have given different debt estimates. Eletson estimates it has $182.6 million of debt that would at most be $502.8 million if the court upholds the unsecured noteholder claims. Claims filed in the case, including a number of disputed claims, listed in the creditors' competing Chapter 11 plan add up to over $776 million.

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Documents

Related Sections

Case Information

Case Title

In Re: Eletson Holdings Inc.

Case Number

25-176

Court

Appellate - 2nd Circuit

Nature of Suit

Date Filed

January 23, 2025

Case Title

Eletson Holdings Inc. v. Levona Holdings Ltd.

Case Number

25-445

Court

Appellate - 2nd Circuit

Nature of Suit

Date Filed

February 26, 2025

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