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Genco Shipping & Trading Limited

  1. July 02, 2014

    Genco Lands Court Approval To Exit Bankruptcy

    Genco Shipping & Trading Ltd. on Wednesday won confirmation of its bankruptcy exit plan after a judge shot down the company's existing equity holders' contentions that the plan undervalued Genco's worth and left them with less than they are entitled.

  2. June 24, 2014

    Genco Bankruptcy Judge Promises Ruling By Next Week

    The judge overseeing Genco Shipping & Trading Ltd.'s Chapter 11 proceedings said he will decide before next Wednesday whether the company may exit bankruptcy after Genco made its final plea for his blessing in the face of vehement opposition from equity holders.

  3. June 12, 2014

    Genco Defends Ch. 11 Plan As Equity Holders Keep Attacking

    Genco Shipping & Trading Ltd. attorneys said on Thursday that existing equity holders should be happy with the warrants offered to them under the company's proposed restructuring plan, saying board members fought to make sure equity holders received as good a deal as possible.

  4. June 06, 2014

    Genco Equity Holders Blast Bankruptcy Plan

    Genco Shipping & Trading Ltd.'s equity holders on Friday launched another attempt to derail the company's bankruptcy proceeding, challenging the prepackaged plan that they say lowballs the value of Genco's assets for the purpose of hanging equity holders out to dry.

  5. May 14, 2014

    Genco Wants Equity Holders Committee Disbanded

    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.

  6. May 12, 2014

    Genco Equity Holders Appeal Restructuring Agreement

    A group of Genco Shipping & Trading Ltd.'s equity holders, including Aurelius Capital Partners LP, on Friday appealed a New York bankruptcy judge's order that greenlighted the dry bulk cargo shipper's agreement with lenders that would slash its debt by $1.2 billion.