Triage in the Trough – Advantaged Alternatives in International Marine Insolvencies

For an industry characterized by as much financial volatility and extreme cyclicality as international shipping, it seems rather remarkable that, historically, relatively few international shipping companies have sought bankruptcy protection in the United States. The increasing recent US bankruptcy filings by international shipping companies may signal a maturing of how this industry treats financial distress, perhaps now finally following an approach to insolvencies, quite common in other businesses, that is more orderly, holistic and can maximize value.

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