Overseas Shipholding existing board approves post-emergence directors

By Caroline Salls

Pittsburgh, June 19 – Overseas Shipholding Group, Inc.’s existing directors approved the slate of new directors nominated by the company’s chief restructuring officer to serve after Overseas’ emergence from bankruptcy, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Specifically, the reorganized company’s board will be comprised of John J. Ray III, Timothy Bernlohr, Alexander D. Greene, Stephen M. Johnson, Samuel H. Norton, Nikolaus D. Semaca, Ronald Steger, Douglas D. Wheat and Gregory A. Wright.

The appointment of the new directors is subject to bankruptcy court approval.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14, 2012 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 12-20000.

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