Outer Harbor Terminal Chapter 11 case set to be converted on Monday

By Caroline Salls

Pittsburgh, Oct. 13 – Outer Harbor Terminal, LLC’s Chapter 11 case will be converted to Chapter 7, effective at 7 p.m. ET on Oct. 16, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, acting Region 3 U.S. trustee Andrew R. Vara asked the court to either convert or dismiss the case in July. Vara said “there is a substantial or continuing loss to or diminution of the estate.”

According to the seven most-recent monthly operating reports, Vara said the company’s cash on hand decreased each month, to $1.34 million from $5.14 million.

In addition, Vara said “there is no reasonable likelihood of rehabilitation.”

Vara said the company ceased operations more than a year ago, vacated the premises it had leased from the Port of Oakland, sold its equipment, filed a plan of liquidation and no longer has the means to reestablish its business.

Based in Oakland, Calif., Outer Harbor is a provider of container terminal operation and stevedore services at the Port of Oakland. The company filed for bankruptcy on Feb. 1, 2016 under Chapter 11 case number 16-10283.

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