International

A newly formed shareholder group is ready to rumble in Overseas Shipholding Group Inc.’s bankruptcy, arguing in its first court appearance that the shipping company’s restructuring deal doesn’t offer enough value to equity and is the product of “flawed” negotiations. Read the Daily Bankruptcy Review article via The Wall Street Journal.

M*Modal Inc., a medical-services company owned by J.P. Morgan Chase & Co.’s private-equity arm, filed for Chapter 11 bankruptcy protection Thursday, following a decline in sales and mounting debt. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Arcapita Bank is suing two Arab banks to recover a total of $45.3 million the investment firm transferred to them just before its 2012 bankruptcy filing. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Creditors of Jacoby & Meyers Bankruptcy LLP want to push the firm into involuntary bankruptcy so they can get paid. Read the Daily Bankruptcy Review article via Law Blog.

The liquidators of Hellas Telecommunications (Luxembourg) II SCA, which was once the third-largest cellular service provider in Greece, are suing its former private-equity owners TPG Capital Management LP and Apax Partners LLP for what it calls “one of the very worst abuses of the private equity industry.” Read the Daily Bankruptcy Review article via The Wall Street Journal.