Trailer Bridge Files Reorganization Plan

Trailer Bridge Inc. said Tuesday it reached an agreement with major note holders and has submitted a restructuring plan following its bankruptcy filing late last year.

The company said if its plan is approved by the U.S. Bankruptcy Court for the Middle District of Florida in Jacksonville, it will try to emerge from Chapter 11 by the end of March.

Trailer Bridge filed for Chapter 11 bankruptcy protection from creditors in November in Jacksonville following facing a Nov. 15 deadline to pay $82.5 million in bonds.

Trailer Bridge said it has reached agreement with Seacor Holdings and Whippoorwill Associates, who hold more than 90% of $82.5 million in secured notes.