Eastwind Maritime trustee granted approval to distribute $2.8 million

By Caroline Salls

Pittsburgh, Dec. 30 – Eastwind Maritime, Inc. Chapter 7 trustee Salvatore LaMonica received court approval to make a 5% interim distribution totaling $2.8 million to holders of allowed general unsecured claims, according to an order filed Dec. 30 with the U.S. Bankruptcy Court for the Southern District of New York.

The trustee said about $6 million is left for distribution from the estate, with roughly $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.

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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