Eastwind Maritime trustee asks for a three-month extension of powers

By Kali Hays

New York, June 25 - Eastwind Maritime Inc.'s chapter 7 trustee, Salvatore LaMonica, is seeking an additional extension of his authority in the company’s case through Sept. 30, according to a Wednesday motion with the U.S. Bankruptcy Court for the Southern District of New York.

LaMonica’s powers as trustee are currently set to expire June 30.

According to the motion, the extension is necessary “in order to preserve the value of the remaining assets of the estates” so the trustee can “continue to pay certain expenses to complete such wind down of the debtors’ operations” and “settle remaining insurance claims in an efficient manner.”

Eastwind Maritime, a Marshall Islands-based shipping company, filed for bankruptcy on June 24, 2009. Its Chapter 7 case number is 09-14014.

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