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Mealeys

MLex

Overseas Shipholding Group, Inc., Reorganized Debtors

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Case overview

Case Number:

1:12-bk-20000

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. April 30, 2015

    E&Y Can't Evade Blame In OSG Tax Error Suit, Plaintiffs Say

    Plaintiffs in a stock-drop class action accusing Overseas Shipholding Group Inc. of concealing federal income tax liabilities told a New York federal judge Wednesday that Ernst & Young LLP can't claim its allegedly inaccurate audit reports were irrelevant to their losses.

  2. April 03, 2015

    Tanker Co. Investors Want Ernst & Young To Face A Jury

    Plaintiffs in a securities suit over tanker company Overseas Shipholding Group Inc.'s inaccurate financial statements urged a New York federal judge Thursday to keep alive claims against Ernst & Young LLP, the final defendant in the case, saying factual disputes remain that must be put before a jury.

  3. February 24, 2015

    OSG Wants Law Firms Sanctioned Over Asbestos Suit

    Overseas Shipholding Group Inc. on Monday asked a Delaware federal bankruptcy court for sanctions against Motley Rice LLC and Jaques Admiralty Law Firm PC for allegedly filing state court personal injury claims against the tanker company in willful violation of its court-approved Chapter 11 confirmation plan.

  4. July 18, 2014

    OSG Set To Sail Out Of Ch. 11 With Confirmed Plan

    A Delaware bankruptcy judge confirmed Overseas Shipholding Group Inc.'s restructuring plan Friday, clearing the way for the oil tanker giant to depart Chapter 11 under the ownership of former shareholders.

  5. July 11, 2014

    OSG Bondholders Say Ch. 11 Plan Falls Short Of Full Payment

    Creditor representatives took aim at Overseas Shipholding Group Inc.'s Chapter 11 plan on Friday, contending the bankrupt oil tanker giant is not providing investors the full recovery it promised on more than $200 million in bonds.

  6. May 27, 2014

    Bankrupt OSG Gets OK On $1.5B Rights Offering

    A Delaware bankruptcy judge gave the thumbs up Tuesday to a $1.5 billion rights offering that is the centerpiece of Overseas Shipholding Group Inc.'s Chapter 11 strategy, and struck down what was described as the last remaining opposition to the oil tanker giant's disclosure statement for the plan.

  7. May 23, 2014

    OSG Removes Final Obstacle To $1.5B Rights Offering

    Overseas Shipholding Group Inc. told a Delaware bankruptcy judge Friday it has a deal in place with noteholders that resolves the lone objection to its proposed $1.5 billion rights offering, a cornerstone of oil tanker giant's Chapter 11 reorganization plan.

  8. May 02, 2014

    OSG Unveils Revised Ch. 11 Plan With $1.5B Rights Offering

    Oil tanker giant Overseas Shipholding Group Inc. unveiled a revised Chapter 11 plan Friday that includes a $1.5 billion rights offering it says "substantially increases" recoveries for equity holders, and also lined up a new $1.35 billion proposed exit financing package from Jefferies Finance LLC.

  9. April 28, 2014

    OSG Shareholders Blast Ch. 11 Disclosure Statement

    Shareholders blasted Overseas Shipholding Group Inc. disclosure statement Friday, saying the bankrupt oil tanker giant needs to explain why its proposed Chapter 11 plan would provide equity holders a recovery roughly $120 million less than the market price of their shares.

  10. April 17, 2014

    OSG Lines Up $935M In Ch 11 Exit Loans From Goldman Sachs

    Oil tanker giant Overseas Shipholding Group Inc. asked a Delaware bankruptcy judge late Wednesday for the green light on a $935 million exit-financing package from Goldman Sachs Bank USA that the debtor calls the "final pillar" of its strategy to emerge from Chapter 11 protection.