Company Seeks Expedited Chapter 11 Emergence
Plan Supported by Lenders and Bondholders
Vendors, Trade Creditors, Employees and Unsecured Creditors to Be Paid In Full
Existing Operations to Continue Uninterrupted
NASSAU, Bahamas, Feb. 07, 2017 (GLOBE NEWSWIRE) — Ultrapetrol (Bahamas) Limited (the Company), a Bahamas corporation, announced today that it and certain of its subsidiaries have commenced voluntary cases under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York yesterday (In re Ultrapetrol (Bahamas) Limited, Chapter 11 Case No. 17-22168) in order to implement the agreement reached with the Companys and subsidiaries lenders and bondholders on the t…
Read the full article at: https://globenewswire.com/news-release/2017/02/07/914607/0/en/Ultrapetrol-Bahamas-Limited-Initiates-Prepackaged-Chapter-11-Proceedings-Pursuant-to-Restructuring-Support-Agreements.html