Lenders to Giuseppe Bottiglieri Shipping Co (GBSC) would support a rival restructuring bid for the indebted Italian shipping company if judges eventually decide to unblock it, according to the Lighthouse group behind the competing offer.
Lenders seeking to recover nearly $400m of GBSC debt voted late last month to back an in-house restructuring bid submitted by the Bottiglieri family and its private equity partner, Bain Capital Credit.
