Dalian-based Winland Group has chosen a Texas stage for a bankruptcy drama with a mostly Chinese and Taiwanese cast, hoping a Chapter 11 restructuring will help it free two bulkers from arrest in Singapore and China and restructure secured mortgages.
As TradeWinds reported online earlier this week, the Chinese shipowner’s Winland Ocean Shipping and several other affiliates filed for protection in the US bankruptcy court in Victoria, outside Houston, Texas.
