In re Genco Shipping & Trading Ltd.

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July 2, 2014

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4731 Arrangement of Transportation of Freight and Cargo
488510 Freight Transportation Arrangement
bankruptcy
expert testimony, net asset value, discounted cash flow (DCF), dry bulk shipper, reorganization, chapter 11, comparable companies method, precedent transactions analysis, bankruptcy code, cramdown, debtor
In re Genco Shipping & Trading Ltd.
2014 Bankr. LEXIS 2854
US
Federal Court
New York
United States Bankruptcy Court
Timothy Coleman, Blackstone (debtors); Neil Augustine, Rothschild Inc. (equity committee)
Lane

Summary

In fight over plan confirmation, court finds nature of industry supports debtors’ reliance on net asset value approach to value Chapter 11 dry bulk shipper but not to the exclusion of more traditional methods; however, court rejects use of DCF.
In re Genco Shipping & Trading Ltd.
PDF, Size: 173 KB

See Also

Industry Characteristics Bolster Reliance on Net Asset Value

Legal and Court Case Update
November 2014

In fight over plan confirmation, court finds nature of industry supports debtors’ reliance on net asset value approach to value Chapter 11 dry bulk shipper but not to the exclusion of more traditional methods; however, court rejects use of DCF.

This article also appears in:
Business Valuation & Bankruptcy Compendium, Third Edition