Yesterday the popular US tabloid reported that the Manhattan-based bulker owner is discussing a debt-for-equity swap with Centerbridge Partners, which recently emerged as the mastermind behind the acquisition of more than $500m worth of the company’s bank debt.
Citing unnamed sources the newspaper also claimed that the distressed securities and leveraged buyout specialist is looking to seize control of Genco in a pre-packaged bankruptcy but does not intend to unseat long-time chairman Peter Georgiopoulos.
The
