Omega Navigation’s creditors, senior secured lender HSH Nordbank and junior lenders NIBC and BTMU Capital, are in one voice on the shipowner’s attempt to extend its “exclusive right” to restructure: they are against it and want to tell the court why.
“It is virtually unprecedented for a debtor’s entire debt structure to line up against management and its reorganization effort and for exclusivity nevertheless to continue,” says HSH in court filings on the case.
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