Tanker owner Eletson Holdings has emerged from bankruptcy protection in New York with a restructuring plan backstopped by an affiliate of Canadian hedge fund Murchison.
The restructured company said it exited the Chapter 11 bankruptcy process with “new leadership, new financial resources and no debt”.
The announcement comes more than 20 months after creditors pushed Greece’s Eletson, an owner of MR product tankers, into Chapter 7 liquidation case.
