The U.S. Bankruptcy Court issued an order confirming Windsor Petroleum Transport’s Amended Plan of Reorganization, dated October 8, 2014. The restructuring provides for, among other things, the following: Conversion of 100% of the debt outstanding under the secured notes indentures into new common stock of the reorganized Debtors; unimpairment of all general unsecured claims, under Section 1124 of the Bankruptcy Code, and equity Interests in Windsor Holdings Limited will be cancelled as of the effective date and holders of such equity interests will receive no distribution under the Plan. This oil tanker owner and operator filed for Chapter 11 protection on July 14, 2014.
About Kerry Mastroianni
Kerry Mastroianni, the editor of The Distressed Company Alert, has been researching distressed and bankrupt companies for over 18 years. As a 10-year employee of New Generation Research, she is also a data editor for Bankruptcy Week and the editor for our annual Bankruptcy Yearbook & Almanac. Prior to Kerry’s employment at NGR, she worked for eight years as a research analyst for KPMG’s corporate recovery practice.