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International Shipholding Objections Filed

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Multiple parties – including the Louisiana Department of Revenue (LDR), BMO Harris Equipment Finance Company and Capital One – filed with the U.S. Bankruptcy Court separate objections to International Shipholding’s Amended Plan.

The LDR asserts, “The LDR objects to the treatment of Administrative Claims because it requires a request for payment before an Administrative Claim can become Allowed. This provision violates 11 U.S.C. section 503(b)(1)(D)….The LDR also objects to the treatment of Administrative Claims because the provision does not provide for post-effective date interest on Administrative Tax Claims pursuant to applicable non-bankruptcy law in the event that any such claim is not an Allowed Claim on the Effective Date or Distribution Date.”

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