Genco Shipping & Trading Limited Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Use Cash Management Systems

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

The filing was assigned docket number 36 and is described on the court’s official docket as follows:

Interim Order Signed On 4/23/2014, (I) Authorizing Use of Existing Cash Management System; (II) Waiving the Requirements of Section 345(b) of the Bankruptcy Code; (III) Authorizing Use of Existing Business Forms; (IV) Authorizing Intercompany Transactions; and (V) Honoring Certain of the Debtors Obligations Related to the Cash Management System. (related document(s)[11]) (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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