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O’Melveny’s Svirsky Quoted in The Deal Pipeline on Berlian’s Chapter 15 Petition to CourtMarch 29, 2013
The March 27, 2013, The Deal Pipeline article “Berlian hauls Chapter 15 petition to court” reports that the marine freight transporter PT Berlian Laju Tanker Tbk obtained provisional bankruptcy relief to halt any collection actions while the company attempts to re-organize in Indonesia. According to the article, this is not Berlain’s first US bankruptcy proceeding. On December 13, 2012, Gramercy Distressed Opportunity Fund II LP, Gramercy Distressed Opportunity Fund Ltd. and Gramercy Emerging Markets Fund filed an involuntary Chapter 11 petition against Berlian. O’Melveny & Myers LLP partner Gary Svirsky said the involuntary proceeding will likely be dismissed once the company wins foreign main recognition. Svirsky served as counsel to the Gramercy funds along with O'Melveny partners Suzzanne Uhland and Andrew Parlen, and counsel Daniel Shamah.