The U.S. Bankruptcy Court approved International Shipholding’s motion to dismiss the Chapter 11 cases of Dry Bulk Australia and Dry Bulk Americas.
As previously reported, “The chapter 11 petitions for the cases in question in this motion were filed out of an abundance of caution in anticipation of multiple possible forms that an ultimate restructuring of the debtors might take. Now, as a joint plan of reorganization has been solicited and voted upon and the dry bulk debtors have no continuing operations and will not be part of the reorganized debtors, it has become clear that these two cases should be dismissed.”
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