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Bankruptcy Maritime

Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Choice of Venue and Maritime Lien Claims

by Dentons on

Preferred maritime liens can raise challenging issues during maritime disputes—especially during bankruptcy. Creditors may encounter problems when filing for seizure due to their unique nature, with venue is becoming a...more

Mainbrace: September 2016 (No. 4)

by Blank Rome LLP on

It’s hard to believe another summer has come and gone. The kids are back in school, the commuter trains are a bit more crowded, and everyone is back from their holidays, hopefully refreshed and ready to get back down to...more

Hanjin Shipping Co., Ltd: Liquidation or a Different Path?

by White & Case LLP on

On September 1, 2016, a rehabilitation procedure was commenced in the Seoul Central District Court in respect of Hanjin Shipping Co., Ltd (Hanjin). This action followed many months of discussions between Hanjin and its...more

The Right To Countersecurity From A Debtor In Bankruptcy

by Blank Rome LLP on

U.S. maritime law offers a maritime plaintiff two principal means of obtaining security for its claims: Rule B attachment in respect of maritime claims, and Rule C arrest in respect of maritime liens. These rules are...more

Mainbrace: June 2016 (No. 3)

by Blank Rome LLP on

As the July 1, 2016, effective date for the SOLAS Regulation VI/2 amendments quickly approaches, unanswered questions and difficulties complying with varied international and domestic implementations loom large. In an effort...more

Commodities contracts and the impact of the OW Bunkers case

by Reed Smith on

As we reported in an earlier Client Alert, the UK Supreme Court recently handed down its highly anticipated judgment in the Res Cogitans case. The Supreme Court was unanimous in finding that a contract to supply bunkers to...more

Res Cogitans - A Class of Its Own

by Reed Smith on

Bunker Supply Contracts, Retention of Title Clauses, The Sale Of Goods Act 1979 and One Highly Publicised Insolvency Combine to Give Vessel Owners a Global Headache - The Supreme Court’s ruling in this already...more

Third Circuit Court of Appeals Upholds Carrier’s “Extended” Maritime Possessory Liens

by Cozen O'Connor on

Summary of Holding - In a recent opinion, in a case of first impression at the circuit level, the U.S. Court of Appeals for the Third Circuit held that maritime carriers and their customers may contractually extend the...more

Energy Newsletter - April 2016

by King & Spalding on

Managing In-Project Disputes in Major Construction Projects - What do you do when an unforeseen event threatens to increase the costs or time necessary to complete a major construction project? At first, it may seem...more

Court of Appeal finds that ship owner “got what it agreed to pay for”

by Reed Smith on

(1) PST Energy 7 Shipping LLC and (2) Product Shipping & Trading S.A. v. (1) O.W. Bunker Malta Ltd and (2) ING Bank N.V. [2015] EWCA Civ 1058. In a decision which has wide reaching implications for ship owners, the Court...more

Stuck in the Bunker – OW and Retention of Title

by Reed Smith on

The fallout from the OW Bunker bankruptcy in November last year continues with a number of claims being heard in the English courts. Last month the owners of the vessel “Res Cogitans” appealed to the Court of Appeal against...more

Courts in New York and Singapore Reach Opposite Conclusions on the Validity of Interpleader Applications Arising out of the OW...

by Reed Smith on

On 7 November 2014, OW Bunker A/S (“OW”), a global supplier and trader of marine fuel, filed for bankruptcy in Denmark. Further bankruptcies of OW subsidiaries and affiliates swiftly followed, including the bankruptcy of...more

Anti-suit injunctions, OW Bunker and ISDA Master Agreements

by Reed Smith on

Anti-suit injunctions, OW Bunker and ISDA Master Agreements SwissMarine Corporation Limited v O.W. Supply & Trading A/S (in bankruptcy) [2015] EWHC 1571 (Comm) - The Commercial Court has recently refused to grant an...more

Mainbrace: March 2015 No. 2

by Blank Rome LLP on

In this issue: - A Note from the Editor - Congress and Administration Take Cautious Approach to Crude Exports as Oil Prices Fall - Meet Blank Rome—Fairfield Sentry: Comity, Seller’s Remorse, and Chapter...more

Calculating Title Insurance Claims: Reduction in Value vs. Insured Claim

by Pepper Hamilton LLP on

First Am. Bank v. First Am. Transp. Title Ins. Co., 759 F.3d 427 (5th Cir. 2014) – After a mortgagor filed bankruptcy, a lender brought claims under a ship mortgage insurance title policy. The lender appealed the...more

Restructuring & Beyond: The marine industry’s routes to safety: Survival strategies and new opportunities for companies, banks and...

by White & Case LLP on

Shipping has its fortunes anchored to the health of the global economy. As long as supply exceeds demand, there will be companies at risk of failure. More than four years into the industry’s downturn, market equilibrium...more

Links To Free Copies Of Documents Filed In The Chapter 11 Bankruptcy Cases Of Overseas Shipholding Group, Inc., Et Al. (U.S....

by Randall Reese on

Our newest website – www.courtreads.com – offers completely free access to over 150,000 documents filed in hundreds of the largest current corporate bankruptcy cases, including cases under chapter 9, chapter 11, and chapter...more

SDNY Bankruptcy Court Tackles Jurisdiction of Federal Maritime Commission

On February 10, 2012, Judge Sean Lane of the United States Bankruptcy Court for the Southern District of New York denied the motion of 22 defendants in adversary proceedings filed by the Debtor, The Containership Company,...more

Shipping Newsletter - August 2011, Issue 28

by Reed Smith on

In this issue: The Effect of Insolvency on a Charterparty; The Bribery Act 2010; Federal Maritime Commission Eases Rate Filing Requirements; Update: Sanctions Regimes; Case Study: Refusal of Orders to proceed to Yemen; Case...more

Texas Insurance Law Newsbrief

Recently, Union Insurance Company successfully defended, and recovered its attorneys’ fees, in an adversary proceeding in bankruptcy court brought by the debtor in possession for building damages allegedly caused by Hurricane...more

OTC Derivative Litigation Update

by Reed Smith on

Section 2(a)(iii) of the ISDA Master Agreement, Similar Clauses and Insolvency There have been so many articles written and opinions expressed on the spate of cases on the effect of how netting provisions in...more

Shipping Industry Problems

Most maritime shipping companies were operating profitably through the summer of 2008 until the "perfect storm" of the credit crisis and the worldwide recession struck, leading to the collapse of both the commodity and...more

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