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Shipping company Toisa Ltd. filed for chapter 11 protection as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents, Reuters reported yesterday. Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has a global fleet of 26 offshore oil service vessels, 13 tankers and seven bulk ships, according to documents filed with the U.S. Bankruptcy Court in Manhattan. The ship operator said it had more than $1 billion in debt in court documents. Toisa said it has been in talks with lenders this month in London, but sought bankruptcy after several lenders took action on their loans, including seeking to seize the company's ships, according to court documents.