Primorsk International Shipping Limited (a/k/a PISL) Bankruptcy New Filing Alert: Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On April 19, 2016, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of Primorsk International Shipping Limited (a/k/a PISL) and its affiliates.

The filing was assigned docket number 148 and is described on the court’s official docket as follows:

Motion to Approve Debtors’ Motion for Orders (I) (A) Approving the Bid Procedures and Certain Bidding Protections, (B) Approving the Notice Procedures, (C) Authorizing the Debtors to Set a Date for the Sale Hearing and (D) Approving Assumption and Assignment Procedures and (II) Authorizing (A) the Sale of the Debtors’ Vessels Free and Clear of All Claims and Interests and (B) the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases in Connection Therewith filed by Andrew G. Dietderich on behalf of Primorsk International Shipping Limited with hearing to be held on 4/28/2016 at 11:00 AM at Courtroom 523 (MG) Responses due by 4/26/2016,. (Dietderich, Andrew)

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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