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Legal Update

Navigation Provides Further Test of a Foreign Debtor's Access to the Protection of the US Bankruptcy Courts

December 2011
Mayer Brown Legal Update
In the course of the next few weeks, Omega Navigation Enterprises, Inc. and its affiliates (collectively, “Omega”), an international shipping enterprise, will find out if motions by certain of their lenders to, among other things, dismiss Omega's chapter 11 bankruptcy proceedings have been granted by the U.S. Bankruptcy Court for the Southern District of Texas[1]. If not, then Omega may be permitted to continue its attempt to reorganize its business under chapter 11 of the Bankruptcy Code.
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