Marco Polo Seatrade files for Chapter 11

Marco Polo Seatrade BV, a ship owning company, said it filed a petition for protection from creditors under Chapter 11 in the US bankruptcy court of Manhattan. The company listed both assets and liabilities in the $100 million to $500 million range.
Affiliates Seaarland Shipping Management BV, Cargoship Maritime BV and Magellano Marine CV also sought court protection, the company said. Holding and finance company Falm International Holding BV owns 100 percent of the equity of Marco Polo, according to court papers. The case is In re: Marco Polo Seatrade BV, US Bankruptcy Court, District of Manhattan, No 11-13634-jmp.