General Maritime Corp (fka GMRRQ)

[abc2438]

Is this stock done?


http://www.bloomberg.com/news/2012-03-01/general-maritime-reports-net-loss-of-63-7-million-for-month-of-january.html

General Maritime Reports Net Loss of $63.7 Million for Month of January
By Tiffany Kary - Mar 1, 2012 10:06 AM CT

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General Maritime Corp. (GMR), the second- largest U.S. owner of oil tankers reorganizing in bankruptcy, reported a net loss of $63.7 million for the month ended Jan. 31.
The net loss since its Nov. 17 bankruptcy filing is $103.5 million, and total assets are $1.67 billion, according to the operating report filed in Manhattan bankruptcy court yesterday. Assets include cash of $15 million and vessels valued at $1.5 billion.
On Feb. 28, the New York-based company won provisional court approval to reorganize even as a bankruptcy judge told creditors to prepare their evidence for an expected fight over final approval of a Chapter 11 plan. The proposed terms will cancel all of General Maritime’s old stock and give all the stock in a new company to Oaktree Capital Management LP (OAKTRZ).