Crossing the Bar: The Low Hurdle to Becoming a U.S. Debtor
Mainbrace
Recent trade publications have prophesized a wave of shipping bankruptcies. We have already seen several in the United States in 2011, such as Omega and Marco Polo. Trailer Bridge and General Maritime filed in November. There will undoubtedly be more, despite the potential debtors having little or no connection to the United States. (View PDF to read the rest of this article)
This article by Jeremy J.O. Harwood, partner at Blank Rome, is one in a series of articles written for Blank Rome Maritime's quarterly Mainbrace newsletter. To view the other articles in the December 2011 edition of Mainbrace, please click here.