Does anyone know why OSGIQ bonds and stocks skyrocketed in March after filing for bankruptcy late last year? If EGLE did file for bankruptcy, how would their bk differ from OSGIQ? In other words, why would EGLE stock go to zero if OSGIQ stock retained value after bankruptcy?
Osg has exposure to the jones act shipping market, which is quite strong right now. Some people have bought in for that reason alone. BK differs based on circumstances. Osg is one example, tbsi is another, as is exm.
possibly the most sensible post this month on this board. each bankruptcy proceeding has been unique along with the reasons why they even entered bk. commonly overlooked hence why so many can't comprehend why bankruptcy for EGLE is a not a high probability.