A conflict has emerged at shipowner Eletson between existing management and a new leadership team installed by a New York bankruptcy court.
Tanker owner Eletson Holdings (EHI) emerged from bankruptcy protection in New York this week, with a restructuring plan backstopped by a Canadian hedge fund and a new chief executive named as Adam Spears.
Today existing managers at tanker owner Eletson have hit back, claiming new executives installed after a US bankruptcy court restructuring have no validity.
