Omega Navigation withdraws joint reorganization plan and disclosure

By Caroline Salls

Pittsburgh, Dec. 17 - Omega Navigation Enterprises Inc. has withdrawn its joint plan of reorganization and related disclosure statement, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

The company also withdrew a motion for approval of a new value escrow agreement.

As previously reported, Omega requested court approval of a settlement agreement with its senior lenders in a Dec. 13 motion.

Omega Navigation is an Athens, Greece-based provider of marine transportation services. The company filed for bankruptcy on July 8, 2011 under Chapter 11 case number 11-35926.

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