Overseas Shipholding Group details financial affairs in court filings

By Caroline Salls

Pittsburgh, Feb. 27 - Overseas Shipholding Group, Inc. has $1,788,825,473 in total assets and $2,052,881,743 in debt, according to its schedules of financial affairs filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

When the company filed for bankruptcy in November, it listed $4,151,334,000 in assets and $2,674,281,000 in debt as of June 30, 2012.

According to the documents filed Tuesday, Overseas Shipholding has no secured claims or unsecured priority claims against it. A total of $2,052,881,743 in unsecured non-priority claims have been filed against the company.

However, the statements do list unsecured priority tax claims held by the Internal Revenue Service in unknown amounts.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14. Its Chapter 11 case number is 12-20000.

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