Overseas Shipholding reaches deal to reduce millions in charter claims

By Caroline Salls

Pittsburgh, Feb. 5 - Overseas Shipholding Group, Inc. requested court approval a stipulation that reduces $574.80 million in claims filed by some affiliates of Chartworld Shipping Corp., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

In connection with charter agreements, Troy Shipping Corp. filed three $56.3 million rejection damages claims; Trianon International SA filed three $47.25 million rejection damages claims; Leporis Shipping Corp. filed three $8.02 million rejection damages claims; Rimar Shipping Corp. filed three $16.37 million rejection damages claims; Talara Shipping Corp. filed three $54.55 million rejection damages claims; and Naos Shipping Corp. filed three $9.11 million rejection damages claims.

Under the stipulation, Leporis will have three $5.23 million non-priority general unsecured claims; Rimar will have three $10.68 million non-priority general unsecured claims; Naos will have three $5.95 million non-priority general unsecured claims; Troy will have three $36.73 million non-priority general unsecured claims; Talara will have three $35.59 million non-priority general unsecured claims; and Trianon will have three $30.82 million non-priority general unsecured claims.

A hearing is scheduled for March 20.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14, 2012. The Chapter 11 case number is 12-20000.

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