Genco Shipping & Trading Limited Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Pay Claims Of Employees

On April 23, 2014, an order regarding the motion for authority to pay claims of employees was filed in the bankruptcy case of Genco Shipping & Trading Limited and its affiliates.

The filing was assigned docket number 33 and is described on the court’s official docket as follows:

Interim Order Signed On 4/23/2014, Authorizing the Debtors to (I) Pay Wages, Other Compensation, and Reimbursable Expenses; (II) Honor and Continue Employee Benefit Programs in the Ordinary Course; and (III) Direct Banks and Financial Institutions to Honor and Process Checks and Transfers Related to Such Obligations. (related document(s)[7]) (Ebanks, Liza)

Genco Shipping & Trading Limited filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on April 21, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the Southern District of New York . The case number for the lead bankruptcy case is 14-11108. The bankruptcy case is currently assigned to United States Bankruptcy Judge Sean Lane. The law firm of Kramer Levin Naftalis & Frankel LLP is acting as lead bankruptcy counsel to Genco Shipping & Trading Limited in the bankruptcy case.

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