General Maritime has filed an amended plan of reorganization in the U.S. Bankruptcy Court for the Southern District of New York after its unsecured creditors objected to its previous plan, a Bloomberg article said.

Under the new plan, the company would pay secured claims in full, raise about $61 million in a rights offering and decrease its debts by $600 million.

The new plan, Bloomberg said, doesn’t cover objections brought by unsecured creditors on Tuesday, February 21 regarding exploring alternatives to a $175 million investment by Oaktree Capital Management.

To read the Bloomberg article in its entirety, click here.

Previously on abfjournal.com:

General Maritime Files Reorganization Plan, Disclosure Statement, Friday, February 03, 2012