Court confirms Hornblower restructuring plan

Hornblower Group, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas in February, reports that the court has now confirmed the company’s plan of reorganization. With court confirmation of the Hornblower restructuring plan, the company, which is a major player in the U.S. ferry market, says that it “has used this process to position the business for future success with a more focused portfolio, introduce new majority ownership and strengthen its...

https://www.marinelog.com/news/court-confirms-hornblower-restructuring-plan/

Hornblower restructures, pulls plug on American Queen

As part of a restructuring that will see it get an infusion of cash and a new majority owner, Hornblower Group has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The restructuring agreement will see funds managed by global alternative investment firm Strategic Value Partners, LLC (SVP) and its affiliates take majority ownership of Hornblower and provide a significant equity investment...

https://www.marinelog.com/inland-coastal/hornblower-restructures-pulls-plug-on-american-queen/