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UPDATE 1-Marco Polo Seatrade files for Chapter 11
July 30, 2011 / 12:15 AM / 6 years ago

UPDATE 1-Marco Polo Seatrade files for Chapter 11

July 29 (Reuters) - Marco Polo Seatrade BV, a ship owning company, said it filed a petition for protection from creditors under Chapter 11 in the U.S. bankruptcy court of Manhattan.

The company listed both assets and liabilities in the $100 million to $500 million range.

Affiliates Seaarland Shipping Management BV, Cargoship Maritime BV and Magellano Marine CV also sought court protection, the company said.

Holding and finance company Falm International Holding BV owns 100 percent of the equity of Marco Polo, according to court papers.

The case is In re: Marco Polo Seatrade BV, U.S. Bankruptcy Court, District of Manhattan, No. 11-13634-jmp.

Reporting by Divya Sharma in Bangalore; Editing by Richard Chang divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net

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