International

Overseas Shipholding Group Wednesday reached an agreement with holders of 60% of its $1.5 billion top-ranking loan on a Chapter 11 plan that will bring the oil tanker operation out of bankruptcy. Read the Daily Bankruptcy Review article here.

First Mariner Bancorp, the holding company for Maryland community bank 1st Mariner, filed for Chapter 11 bankruptcy Monday in order to sell its bank subsidiary. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Plastipak Packaging Inc. of Michigan outbid Australia’s Amcor Ltd. at a bankruptcy auction for substantially all of the assets of Constar International Holdings LLC, a Philadelphia-based maker of plastic bottles, court papers say. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A government watchdog wants to investigate the ties between Freedom Industries Inc.’s bankruptcy lawyers and key parties in its Chapter 11 case, including the company that acquired Freedom shortly before the chemical spill that tainted the water supply of a large swath of West Virginia. Read the Daily Bankruptcy Review article here.