Eletson Holdings Inc.

  1. January 10, 2025

    New Eletson Owners Want Reed Smith Ch. 11 Fees Returned

    Reorganized international shipping group Eletson Holdings Inc. has urged a New York bankruptcy judge to order Reed Smith to return fees it was paid for representing the company in its Chapter 11, alleging the law firm "deliberately concealed" that it was simultaneously working for Eletson's former officers in a move that destroyed value for creditors during the case.

  2. January 06, 2025

    Eletson Alters Sanctions Threat For Old Owners, Reed Smith

    The new owners of reorganized Greek shipping group Eletson Holdings Monday brought a reworked request that a New York bankruptcy judge threaten its former owners and their counsel at Reed Smith with sanctions if they failed to update the company's ownership records.

  3. December 16, 2024

    Reed Smith, Eletson Battle Over Sanctions In Ch. 11

    The current and former owners of reorganized Greek shipping group Eletson Holdings clashed in New York bankruptcy court Monday over sanctions requested against Reed Smith LLP, the Chapter 11 counsel to the previous Eletson, and others in a dispute over implementing its confirmed bankruptcy plan that an attorney compared to the movie "Groundhog Day."

  4. November 15, 2024

    Eletson To Appeal Order Confirming Rival Ch. 11 Plan

    Gas tanker operator Eletson Holdings Inc. has opened an appeal of a New York bankruptcy judge's confirmation of a Chapter 11 plan proposed by petitioning creditors, according to a notice of the move.

  5. November 08, 2024

    Under The Radar: Bankruptcy News You May Have Missed

    The U.S. Trustee's Office took aim at the U.S. ties and motivations of a bankrupt defense contractor in Abu Dhabi, creditors of Eletson Holdings said they were still skeptical of Reed Smith LLP's work in the company's contentious Chapter 11 case and a Navajo Nation-owned energy company argued that a reorganized coal miner is trying to use a typo to boost royalty payments.

  6. November 04, 2024

    Purdue Buys Time For Creditor Deal, Eletson Plan Confirmed

    Facing a litigation stay deadline after the U.S. Supreme Court overturned its Chapter 11 plan, OxyContin maker Purdue Pharma was given a new one-month extension of the stay so that its creditors and the Sacklers can continue mediating to settle claims.

  7. October 31, 2024

    Reed Smith To Clarify Eletson Ties And Cut Fees $150K

    Reed Smith LLP has struck a deal with the U.S. Trustee's Office to take a $150,000 haircut on its fee application for representing shipping firm Eletson Holdings in its Chapter 11 case and explain its prepetition relationship to company leadership, resolving a bid to claw back legal fees from the firm for allegedly not being disinterested.

  8. October 28, 2024

    Judge Rejects Eletson's Ch. 11 Plan In Favor Of Creditors Plan

    A New York judge confirmed a Chapter 11 plan from the creditors that petitioned to have shipping company Eletson placed in bankruptcy, after finding that the debtor's reorganization plan was not feasible.

  9. September 30, 2024

    US Trustee Says Reed Smith Didn't Disclose Eletson Ties

    The U.S. Trustee's Office is asking a New York bankruptcy judge to claw back the fees and expenses law firm Reed Smith LLP has earned representing shipping firm Eletson Holdings in its Chapter 11 case, saying it failed to disclose ties with Eletson directors.

  10. September 09, 2024

    Eletson Pushes To Void Ch. 11 Claims By 'Drone' Creditors

    Eletson Holdings on Monday asked a New York bankruptcy judge to dismiss Chapter 11 claims by creditors it alleges are "drones" for a third party tangled in a corporate dispute with the oil and gas shipping company.