Mealey's Bankruptcy - U.S. Trustee: Fees For OSG Committee's Adviser Are 'Unreasonable, Improvident'

Mealey's Bankruptcy - U.S. Trustee: Fees For OSG Committee's Adviser Are 'Unreasonable, Improvident'

WILMINGTON, Del. - The U.S. trustee in the Chapter 11 bankruptcy case of Overseas Shipholding Co. (OSG) on April 17 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to OSG's application to employ Peter J. Solomon Co. (PJSC) as the financial adviser for the Official Committee of Equity Security Holders on grounds that they are "unreasonable" (In Re: Overseas Shipholding Group Inc., No. 12-20000, Chapter 11, D. Del. Bkcy.).

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