New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 29, 2013
08:41 EDTDHTDHT Holdings reports agreement on amount of OSG claims
DHT Holdings announced that DHT and certain of its affiliates and Overseas Shipholding Group, or OSG, and certain of its affiliates have agreed to a total claims amount of $46M in full settlement of the claims filed against two subsidiaries of OSG, Dignity Chartering Corporation and Alpha Suezmax Corporation, for damages arising from the Debtors' rejection of the bareboat charter agreements for the Overseas Newcastle and Overseas London, respectively, and against OSG on account of its guarantees of the obligations of Dignity and Alpha, respectively, under each of the respective bareboat charter agreements. On March 6 subsidiaries of DHT filed proofs of the Claims in the Bankruptcy Court in the aggregate amount of approximately $51.8M plus attorneys' fees. The amount is subject to the final order of the U.S. Bankruptcy Court for the District of Delaware which is expected on December 19. Also, DHT and certain of its affiliates and OSG and certain of its affiliates have separately agreed to settle six further claims in the amount of $3.4M plus attorneys' fees filed by various affiliates of DHT against various affiliates of OSG, and OSG as guarantor of each claim on or about May 30, for a total claim amount of $1.5M in full settlement of such claims. The settlement amount is also subject to the final order of the Bankruptcy Court which is expected on December 19. These claims have not been assigned to a third party and the amount, timing and form of any recovery is not known.
News For DHT From The Last 14 Days
Check below for free stories on DHT the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for DHT

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use