Outer Harbor Terminal files bankruptcy to continue operations winddown

By Caroline Salls

Pittsburgh, Feb. 1 – Outer Harbor Terminal, LLC filed Chapter 11 bankruptcy Monday in the U.S. Bankruptcy Court for the District of Delaware.

After years of operating at a loss and sustaining significant, negative cash flows, the company said in court documents that its members voted to terminate and wind down the company’s business operations.

The winddown began on Jan. 19, and Outer Harbor said it plans to continue that process through the Chapter 11 case.

According to court documents, Outer Harbor has $100 million to $500 million in both assets and debt.

The company did not list any unsecured creditors with claims of $1 million or more. However, the Port of Oakland has a terminal concession claims in an unliquidated amount, and the City of Oakland, Calif., has a transfer tax claim in an unliquidated amount.

HHH Oakland, Inc. and Terminal Investment Ltd. SA each own a 50% interest in the company.

Outer Harbor is represented in the Chapter 11 case by Richards, Layton & Finger, PA.

Oakland, Calif.-based Outer Harbor is a provider of container terminal operations and stevedore services at the Port of Oakland. The Chapter 11 case number is 16-10283.

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