Overseas Shipholding Group, Inc., Reorganized Debtors

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Case overview

Case Number:

1:12-bk-20000

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

August 26, 2013
OSG's Back Taxes Could Top $460M, Restatements Say

Bankrupt Overseas Shipholding Group Inc. on Monday submitted a pair of regulatory filings with the U.S. Securities and Exchange Commission that restate it previously reported finances, with the the oil tanker giant saying it could owe the Internal Revenue Service back taxes totaling $460 million or more.
August 23, 2013
OSG Blasts Bank Lenders' Bid To Limit Ch. 11 Exclusivity

Bankrupt Overseas Shipholding Group Inc. on Wednesday slammed an objection seeking to truncate its requested extension of the Chapter 11 exclusivity period, calling opposition from its bank lenders a "self-serving" attempt to gain leverage over other creditors.
August 20, 2013
US Bank Balks At OSG Call For Ch. 11 Exclusivity Extension

The leader of a group that is the largest creditor in the Overseas Shipholding Group Inc. bankruptcy case took issue late Monday with the company's request to extend the time it can exclusively file a Chapter 11 plan, arguing a four-month delay will only heap on more costs.
August 06, 2013
SEC Probes Overseas Shipholding Group's 'Tax Issue'

Overseas Shipholding Group Inc. said on Monday that the U.S. Securities and Exchange Commission has launched a probe of 13 years' worth of potentially faulty financial reporting, again highlighting a "tax issue" that largely plunged the tanker company into Chapter 11 protection in Delaware court.
April 25, 2013
Overseas Shipholding's $94M Military Contract Approved

A Delaware bankruptcy judge on Wednesday said Overseas Shipholding Group Inc. can go forward with its $94 million U.S. government contract to make ships and commercial transportation resources available during times of war or national emergency.
March 21, 2013
BP, Tanker Co. Call Truce In Shipping Venture Fight

Bankrupt Overseas Shipholding Group Inc. asked a Delaware bankruptcy judge Wednesday to sign off on a truce with a BP PLC unit over the future of a joint shipping venture, setting aside their differences for at least as long as the oil shipper remains in bankruptcy.
March 18, 2013
US Trustee Balks At Bankrupt OSG's $14M In Bonuses

The U.S. Trustee on Friday questioned Overseas Shipholding Group Inc.'s bid to pay $14 million in bonuses to hundreds of the bankrupt oil shipper's employees, along with a handful of executives, saying OSG needs to disclose more details to prove the bonuses are necessary.
February 26, 2013
BP Unit, Tanker Co. OSG Reach Truce Over Shipping Venture

Troubled oil tanker giant Overseas Shipholding Group Inc. and a BP PLC unit, at odds over the future of a joint shipping venture, told a Delaware bankruptcy judge Tuesday that they had agreed to a two-month cease-fire during which they hoped to resolve the dispute.
February 25, 2013
Bankrupt OSG Sues BP Unit For Trying to Ditch Joint Venture

Overseas Shipholding Group Inc. filed a suit in Delaware bankruptcy court Monday seeking to block a BP PLC unit from pushing the bankrupt tanker giant out of a joint venture that transports BP's crude oil from Alaska.
February 13, 2013
Overseas Shipholding Hit For $463M In Taxes As CEO Resigns

The Internal Revenue Service slapped bankrupt Overseas Shipholding Group Inc. with a $463 million claim for back taxes on Monday — the same day the oil tanker giant's CEO resigned.