The U.S. bankruptcy case of Taiwan-based shipping company TMT Group can proceed under chapter 11 protection, a judge ruled on Tuesday, affirming that the case was filed in good faith, Dow Jones Daily Bankruptcy Review reported today. The ruling this week from Bankruptcy Judge Marvin Isgur allows the company to move forward with its plan to cut its debt load by $1.46 billion and increase the efficiency of its business while protecting its ships, many of which are arrested in ports around the world.
