Shipping companies, from Singapore to Greece to New York, are really feeling the pressure of the down turn in the shipping economic cycle. At the top of the cycle, increased capital investment fuels new shipbuilding and at the bottom of the cycle, demand and rates fall and excess tonnage sits idle or operates at a loss. In 2012, it appears that many sectors of the shipping industry are headed for the rocks as more owners threaten to default on loans and have to face the painful process of restructuring and, in some cases, bankruptcy. Currently, many owners seem to be seeking protection under Chapters 11 and 15 of the US Bankruptcy Code including such entities as Marco Polo Seatrade, General Maritime, TBS and Omega Navigation.
Please join our global shipping and restructuring partners: Bill Amos, Rick Hyman, John Marsden and Devi Shah as they discuss the below topics in connection with the restructuring of the shipping industry.
- Heading for the rocks - the current state of the shipping industry
- The impact and benefits of Chapter 11 and Chapter 15 of the US bankruptcy code
- Local shelters do they assist in weathering the storm - the PT Bakrie Investindo decision
- Recognition of and assistance available in cross border shipping insolvency proceedings by the English courts
- Use of UK Schemes of Arrangements by foreign companies to restructure
CLE/CPD credit pending.
5:00 p.m. - 6:00 p.m. HKT
10:00 a.m. - 11:00 a.m. BST
Europe (including Germany and France)
11:00 a.m. - 12:00 p.m. CEST
The United States
5:00 a.m. - 6:00 a.m. EDT
Note: As a global webinar, the timing of the live presentation may not be convenient for all regions. The program will be recorded. If you cannot attend at the designated time, please register anyway to make sure you receive a link to the recording.
Instructions for accessing the program will be sent prior to the event.
For additional information, please contact Madeleine Moulton at firstname.lastname@example.org.
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