Sea Containers and GE settle their differences

摘要

GE SeaCo, the fifth largest lessor of marine containers, should benefit from the recent agreement of its two stakeholders to resolve their differences. With parts of Sea Containers Ltd (SCL), which owns 50% of GE SeaCo in Chapter 11 bankruptcy proceedings, various litigations and differences of opinion about the future of the company had emerged with General Electric Capital Corp (GE), the other equity investor. The recent court settlement will bring to an end the hostilities and should enable SCL to expedite its financial restructuring plan, thereby giving it a much better chance of successfully emerging out of Chapter 11 with a viable business plan.