# Milbank Guides in River Barge Company Chapter 11 Proceedings

> Milbank reports that American Commercial Lines, a river barge operator on the Mississippi, Ohio and Gulf Intercoastal Waterway, had its prepackaged Chapter 11 reorganization plan confirmed on March 20, 2020. The plan cuts about $949 million of debt and secures up to $650 million in new asset-based lending.

- Date: 2020-03-23 · published 2020-03-23T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/54301-milbank-guides-in-river-barge-company-chapter-11-proceedings
- Commodities: [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

The restructuring keeps a major barge operator running with its fleet of about 3,500 barges intact, so it is unlikely to change river freight capacity or rates for feed commodities in the near term.

## Sources

- milbank.com: https://www.milbank.com/en/news/milbank-guides-american-commercial-lines-to-swift-chapter-11-plan-confirmation.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.