OW’s US arms pursue $45m in unpaid bills

January 4, 2016

Categories : General

Types : In the News

The US affiliates of OW Bunker are still on the prowl for $44.6m in unpaid receivables, according to lawyers for the companies.

The Danish fuel supply giant’s main secured creditor, ING Bank, has joined forces with OW Bunker USA and OW Bunker North America after the two reached a settlement that paved a way for confirmation of the OW affiliates’ US bankruptcy plan in a federal court in Connecticut earlier this month.

Robert O’Connor, a Montgomery McCracken litigator representing the OW entities left orphaned by their parent company’s collapse late last year, said that in cases where the affiliates were “contract suppliers” for bunkers, a liquidation trust will use a combination of measures to collect,  including settlement negotiations, vessel arrests and other legal proceedings.

“The confirmation of the plan is a big turning point for the US [OW Bunker] bankruptcy,” O’Connor said. “It’s a positive sign that it’s moving in the right direction. I think the industry as a whole is eager to see these disputes resolved.”


O’Connor told TradeWinds that the shipowner debts will be tackled on a case-by-case basis.

“In instances where there is no third-party supplier involved, … it’s pretty straightforward, the customer should pay,” he said. “And that’s where we’ve been having some success in terms of collecting without litigation.”

Visit TradeWindsnews.com to view the full article.



Montgomery McCracken’s Business Department works proactively and collaboratively with our clients to advise on the full array of corporate and business issues, ranging from finance and regulatory matters to mergers […]

Learn more about our Business Department

Bankruptcy and Financial Restructuring

The attorneys in Montgomery McCracken’s Bankruptcy and Financial Restructuring Department assist clients in all aspects of restructuring, including bankruptcies, out-of-court restructurings, reorganizations, liquidations, workouts, debt refinancings, adversary proceedings, and contested […]

Learn more about our Bankruptcy and Financial Restructuring Department

Maritime and Transportation

Montgomery McCracken’s Maritime and Transportation Industry Group attorneys are globally recognized leaders in major casualty litigation, marine pollution, and cargo defense. We represents our clients in a broad range of […]

Learn more about our Maritime and Transportation Industry

1 of 3