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Overseas Shipholding gets OK for extended for use of cash collateral
By Jim Witters
Wilmington, Del., Jan. 24 - Overseas Shipholding Group, Inc. received approval for a stipulation with pre-petition secured lender the Export-Import Bank of China for the continued use of cash collateral, according to documents filed Jan. 24 with the U.S. Bankruptcy Court for the District of Delaware.
A final hearing on use of cash collateral is scheduled for 11 a.m. ET on Feb. 5.
Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14. The Chapter 11 case number is 12-20000.
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