Eagle Bulk Shipping Inc., a provider of ocean-borne transportation for dry-bulk cargoes, got the signature of the bankruptcy judge on a confirmation order Sept. 22 approving the reorganization plan negotiated before the Chapter 11 filing on Aug. 6 (In re Eagle Bulk Shipping Inc., Bankr. S.D.N.Y., 14-12303, plan confirmed 9/22/14).
The plan reduces the company’s total debt by some $975 million and includes payment in full for trade creditors.
Before bankruptcy, the company obtained votes in favor of the plan from lenders with more than 85 percent of the secured loans. As part of the confirmation process, ...
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