Independent journal on economy and transport policy
06:04 GMT+1
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Granted to Marco Polo Seatrade the admission to Chapter 11
The Court of New York has come to an agreement a temporary authorization
August 3, 2011
Marco Polo Seatrade (MPS) has announced to have obtained from the Court of New York a temporary authorization that allows them to continue to operate with its ordinary business under protection of the Chapter 11 of the Bankruptcy American Tails that the company Dutch owner of a shipping company has demanded in order to complete the previewed process of restructure in order to bring back the society to a long-lasting economic solidity ( on 1° August 2011).
In particular, the Court has granted to the MPS, a society managed from Seaarland Shipping Management, the right to continue to operate, to pay the running expenses, to pay the crew and dependent salaries, to continue all the managerial procedures of case, to maintain to all the insurance covers, in the within of the ordinary management of the business of the society.
The team that manages the society - has emphasized MPS - it continues the normal activity and contractual the continuous society to honor all its obligations of charterings in course, for all the duration of the protection granted from the Court.
The advanced resource from MPS interests the ships Montiron, Diana, Laura, Beth, Louise and Meg.
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Marco Polo Seatrade (MPS) has announced to have obtained from the Court of New York a temporary authorization that allows them to continue to operate with its ordinary business under protection of the Chapter 11 of the Bankruptcy American Tails that the company Dutch owner of a shipping company has demanded in order to complete the previewed process of restructure in order to bring back the society to a long-lasting economic solidity 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
