Case Background

On July 31, 2016, International Shipholding Corporation and 17 affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.  The cases are pending before the Honorable Stuart M. Bernstein and are jointly administered under Case No. 16-12220.

Click here to view the company’s filing press release.

Click here to view the company’s confirmation press release.

Click here to view the company’s June 2, 2017 press release.

Important Information & Dates

Bar Date for Filing Proofs of Claim

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

  • General Bar Date (all creditors other than Governmental Units): December 16, 2016 at 5:00 p.m., prevailing Eastern Time
  • Governmental Unit Bar Date: January 27, 2017 at 5:00 p.m., prevailing Eastern Time

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

 

Sale Process

On October 28, 2016, the Debtors filed a motion to sell certain assets contained in the Specialty Business Segment. On November 18, 2016, the Bankruptcy Court entered an order approving the bidding and auction procedures in connection with such sale. The Auction was held on December 15, 2016 at 10:00 a.m. (ET). The Bankruptcy Court held a hearing to consider approval of the sale on December 20, 2016 at 10:00 a.m. (ET). On January 30, 2017, the Bankruptcy Court entered an order authorizing the sale. The sale closed on February 28, 2017.

 

Plan and Disclosure Statement

On November 14, 2016, the Debtors filed their Plan of Reorganization and the Disclosure Statement related thereto.  On January 10, 2017, the Bankruptcy Court entered an order approving the Disclosure Statement.  On March 2, 2017, the Bankruptcy Court entered an order confirming the Plan.  On July 3, 2017, the Effective Date of the Plan occurred, and the Plan was consummated.

 

Dates

July
3

Effective Date

______
July
27

Omnibus Hearing

10:00 a.m. (ET)
August
17

Omnibus Hearing

10:00 a.m. (ET)
July
31
__________________
October
18
2:30 p.m.
December
15
10:00 a.m. (ET)
December
20
10:00 a.m. (ET)

Parties

Debtors' Counsel

Akin Gump Strauss Hauer & Feld LLP

One Bryant Park
New York, NY   10036
https://www.akingump.com
Phone: 212.872.1000
Fax: 212.872.1002
David H. Botter

Akin Gump Strauss Hauer & Feld LLP

1700 Pacific Avenue
Suite 4100
Dallas, TX   75201
https://www.akingump.com
Phone: 214.969.2800
Fax: 214.969.4343
Sarah Link Schultz
Travis A. McRoberts

Debtors' Restructuring Advisors

Blackhill Partners, LLC

2651 N. Harwood Street
Suite 120
Dallas, TX   75201
http://www.blackhillpartners.com
Phone: 214.382.3750
Fax: 214.382.3755


United States Trustee and Court Information

U.S. Trustee's Office

U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY   10014
http://www.usdoj.gov/ust/r02
Phone: 212.510.0500
Fax: 212.668.2255
Serene K. Nakano

Southern District of New York

One Bowling Green
New York, NY   10004-1408
http://www.nysb.uscourts.gov
Phone: 212.668.2870
Stuart M. Bernstein

Debtors

Case Number
Debtor Name
Petition Date
16-12220 International Shipholding Corporation July 31, 2016
16-12225 Enterprise Ship Company, Inc. July 31, 2016
16-12233 Sulphur Carriers, Inc. July 31, 2016
16-12221 Central Gulf Lines, Inc. July 31, 2016
16-12222 Coastal Carriers, Inc. July 31, 2016
16-12219 Waterman Steamship Corporation July 31, 2016
16-12218 N.W. Johnsen & Co., Inc. July 31, 2016
16-12229 LMS Shipmanagement, Inc. July 31, 2016
16-12235 U.S. United Ocean Services, LLC July 31, 2016
16-12230 Mary Ann Hudson, LLC July 31, 2016
16-12232 Sheila McDevitt, LLC July 31, 2016
16-12234 Tower LLC July 31, 2016
16-12226 Frascati Shops, Inc. July 31, 2016
16-12227 Gulf South Shipping PTE LTD July 31, 2016
16-12228 LCI Shipholdings, Inc. July 31, 2016
16-12224 Dry Bulk Australia LTD (Dismissed 03/21/2017) July 31, 2016
16-12223 Dry Bulk Americas LTD (Dismissed 03/21/2017) July 31, 2016
16-12231 Marco Shipping Company (PTE) LTD July 31, 2016