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Shareholders Challenge Overseas Shipholding Chapter 11 Deal

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Shareholders say they are entitled to a bigger piece of Overseas Shipholding Group than they are being offered as one of the world's largest tanker operators prepares to leave bankruptcy, and they have turned to the courts for help, Dow Jones Daily Bankruptcy Review reported today. Two groups of investors filed protests in court on Wednesday. According to shareholders, Overseas Shipholding is advancing a "flawed" restructuring strategy while ignoring shareholder-backed turnaround proposals.