Reed Smith Booted From Eletson Ch. 11 Over Client's Existence

By Vince Sullivan · October 16, 2025, 5:10 PM EDT

A New York bankruptcy judge disqualified Reed Smith LLP from continued work in the Chapter 11 case of reorganized oil and gas shipping company Eletson Holdings on Thursday, saying the law...

To view the full article, register now.
Try a seven day FREE Trial

Already a subscriber? Click here to login

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.

View Full Scorecard

Related Sections

Case Information

Case Title

Eletson Holdings Inc.

Case Number

1:23-bk-10322

Court

New York Southern

Nature of Suit

Date Filed

March 07, 2023

Recent Articles By Vince