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Friday, May 25, 2018

Rand Logistics Files for Chapter 11 Bankruptcy

Maritime Activity Reports, Inc.

January 31, 2018

Rand Logistics Inc, one of the largest bulk freight shipping providers in the Great Lakes region, filed for Chapter 11 protection on Tuesday after agreeing to a debt-for-equity swap with lender Lightship Capital LLC.

Rand, with $236 million of debt, said in November it would file for bankruptcy as part of a restructuring support agreement with Lightship, an affiliate of New York-based private equity firm American Industrial Partners.

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