May 13, 2024
Unsecured creditors of shipping company Eletson Holdings have asked a New York bankruptcy judge to cut more than $1 million from the fees being sought by Eletson counsel Reed Smith LLP, saying the firm overstaffed the case and wasted money on needless and meritless fights.
May 08, 2024
A dispute over professional fee applications in the Chapter 11 case of shipping company Eletson Holdings was largely resolved Wednesday in a New York bankruptcy court, but questions about fees incurred by lawyers working on an arbitration action outside of bankruptcy kept a final resolution at bay.
March 27, 2024
Creditors that tried to force Greek shipping company Eletson Holdings to liquidate in bankruptcy last year have filed their own Chapter 11 plan in New York that would allow holders of unsecured claims to own as much as 68% of the reorganized firm.
March 15, 2024
Eletson Holdings Inc.'s unsecured creditors told a New York bankruptcy judge to cut the "vast majority" of the fees Reed Smith LLP requested for its work on the tanker company's Chapter 11 case because the firm wants nearly $1.9 million for work that didn't help the estate.
February 27, 2024
A New York bankruptcy judge scheduled an April trial to determine whether to appoint a Chapter 11 trustee in the bankruptcy of Eletson Holdings, while directing the tanker company and its unsecured creditors to continue mediation.
February 07, 2024
Unsecured creditors of bankrupt gas tanker company Eletson Holdings asked a New York court on Wednesday to appoint a Chapter 11 trustee, saying the debtor did not cooperate with the committee and accused the families that control it of transferring assets without creditors' consent while "barely" participating in the case.