A source with ties to some of the bankruptUS tanker owner’s creditors tell TradeWinds that an ad hoc committee ofnoteholders are planning to push for an overhaul that gives them an equity stakein the restructured company, which is not an option under the plan in itscurrent form.
According to David Epstein, a bondanalyst at Connecticut-based broker-dealer CRT Capital, the embattled operator hasoffered to reinstate two series of outstanding senior unsecured notes after bringing claimants current by settling contractualinterest and coughing up cash to cure defaults.
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