Primorsk International Shipping Limited (a/k/a PISL) Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing

On January 17, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Primorsk International Shipping Limited (a/k/a PISL) and its affiliates.

The filing was assigned docket number 8 and is described on the court’s official docket as follows:

Motion to Approve Use of Cash Collateral Motion for Interim and Final Orders (A) Authorizing Use of Cash Collateral, (B) Granting Adequate Protection, (C) Modifying the Automatic Stay, (D) Authorizing Debtors to Utilize Operating Revenues as Unencumbered Property Under Section 552 of the Bankruptcy Code and (E) Authorizing Debtors to Direct Payments by Charter Counterparties filed by Andrew G. Dietderich on behalf of Primorsk International Shipping Limited with hearing to be held on 1/20/2016 at 02:00 PM at Courtroom 501 (MG). (Dietderich, Andrew) (Entered: 01/17/2016)

Primorsk International Shipping Limited (a/k/a PISL) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on January 15, 2016. 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 16-10073. The bankruptcy case is currently assigned to United States Bankruptcy Judge Martin Glenn. The law firm of Sullivan & Cromwell LLP is acting as lead bankruptcy counsel to Primorsk International Shipping Limited (a/k/a PISL) in the bankruptcy case.


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