Independent journal on economy and transport policy
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Approved of the plan of liquidation of Marco Polo Seatrade introduced in the within of Chapter 11
Green light from the LAST Bankruptct Court for the Southern District of New York
August 16, 2012
The Dutch Marco Polo Seatrade BV, society operated from the Seaarland Shipping Management of the Italian group Zacchello, has obtained from the LAST Bankruptct Court for the Southern District of New York the definitive approval of the plan of liquidation introduced in the within of the procedure previewed from Chapter 11 of the American bankrupt law to which the society she has had approached a year ago ( on 1° August 2011).
The liquidation plan, that the lacked attainment an agreement with the financial institutions is introduced as a result of (that they have obtained the possession of the six tankers of the company) and with the creditors on the plan of restructure of the society, is landed unanimously by the creditors. Marco Polo will exit therefore from the procedure of Chapter 11 maintaining interests in its branches.
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