Reuters: Bankruptcy News: Overseas Shipholding Group files for bankruptcy

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Overseas Shipholding Group files for bankruptcy Nov 14th 2012, 12:54 Wed Nov 14, 2012 7:54am EST Nov 14 (Reuters) - Debt-laden Overseas Shipholding Group Inc , the world's No. 2 independent tanker operator by fleet size, filed for Chapter 11 bankruptcy protection on Wednesday. The company, which has been struggling to plug a $300 million shortfall in its $1.5 billion fully drawn revolving credit facility, warned last month that it may have to seek bankruptcy protection. It had also said at that time that it may have to re-state results for at least three years due to a tax issue.

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