Eastwind Maritime trustee asks to distribute $2.8 million to creditors

By Kali Hays

New York, Dec. 5 – Eastwind Maritime, Inc. Chapter 7 trustee Salvatore LaMonica requested court authorization to make a 5% interim distribution totaling $2.8 million to company creditors holding allowed general unsecured claims, according to a Friday motion with the U.S. Bankruptcy Court for the Southern District of New York.

Approximately $6 million is left for distribution from the estate, with about $12 million having been distributed to creditors to date.

According to the motion, LaMonica “expects to receive additional funds” from other court cases that have yet to be settled.

If these additional funds do become available, the trustee asked that he be permitted to make further distributions to unsecured creditors without another court order.

The motion will be presented for court approval Dec. 31.

Eastwind Maritime, a Marshall Islands-based shipping company, filed for bankruptcy on June 24, 2009. Its Chapter 7 case number is 09-14014.

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