A well-placed source with ties to the US bulker operator is confident that relationships with blue-chip counterparties will not be impacted by a regulatory filingin which it warned investors that it may be forced to pursue a Chapter 11 restructuring.
The source admits the situation might have been different in years past when charterers were unfamiliar with the US bankruptcy system but believes the recent uptick in high-profile restructurings has eliminated some of the stigma.
