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International Shipholding receives Maritime Administration approval, sees exit by July 3
New York, June 1 – International Shipholding Corp. said it received the necessary approvals from the U.S. Department of Transportation Maritime Administration for its plan of reorganization.
Approvals from the administration were a condition to effectiveness of the plan.
The company expects to exit from Chapter 11 as a subsidiary of Seacor Holdings Inc. by July 3.
The plan was confirmed on March 2.
New Orleans, La.-based International Shipholding provides maritime transportation services through its subsidiaries. The company filed bankruptcy on Aug. 31, 2017 in the U.S. Bankruptcy Court for the Southern District of New York under Chapter 11 case number 16-12220.
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