Creditors, Watchdog Denied Estate Trustee In Eletson Ch. 11

By Emlyn Cameron · May 30, 2024, 6:42 PM EDT

Shipping company Eletson will retain control of its contentious reorganization after a New York bankruptcy judge shot down requests to name a Chapter 11 trustee and said that those vying for...

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Bankruptcy Scorecard


Greek oil and gas shipper Eletson was forced into bankruptcy by a group of noteholders who said the company had stopped paying its debts. The creditors and the company have filed competing reorganization plans.

Case Number



Brendan L. Shannon


U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

Eletson and the petitioning creditors have given different debt estimates. Eletson estimates it has $182.6 million of debt that would at most be $502.8 million if the court upholds the unsecured noteholder claims. Claims filed in the case, including a number of disputed claims, listed in the creditors' competing Chapter 11 plan add up to over $776 million.

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Case Information

Case Title

Eletson Holdings Inc.

Case Number



New York Southern

Nature of Suit

Date Filed

March 07, 2023