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CowBoE

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CowBoE

Re: DAD2 post# 99

Wednesday, 11/14/2012 8:08:50 AM

Wednesday, November 14, 2012 8:08:50 AM

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REUTERS: OSG Filed for Chapter 11 Wednesday.

REUTERS – 7:54 AM ET 11/14/2012
Debt-laden Overseas Shipholding Group Inc (OSG), the world's No. 2 independent tanker operator by fleet size, filed for Chapter 11 bankruptcy protection on Wednesday. The company, which has been struggling to plug a $300 million shortfall in its $1.5 billion fully drawn revolving credit facility, warned last month that it may have to seek bankruptcy protection.
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