Winland Ocean Shipping Corp, along with its affiliates filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on February 11, 2015. The affiliates include Plentimillion Group Limited, Fon Tai Shipping Co., Ltd., Winland Dalian Shipping, S.A., SkyAce Group Ltd. and Won Lee Shipping Co., Ltd. The debtor listed its assets of $0.50 million and liabilities of $14.94 million. The largest unsecured creditors include China P&I Management, Dalian Master Well Ship Management Co., Ltd., Far East Shipping/T.F Marine Eng & Spare, Nan Tong San Li Co., PICC Insurance Company, Rich Forth Investment Limited, Sea Carrier Shipping Co., Ltd., Shanghai FG Engineering Co., Ltd., Yangzhou Prosperous Shipping Co.

and Zoushan Ligang Shipbuilding Co., Ltd. The debtor is represented by Matthew Scott Okin of Okin & Adams LLP as its legal counsel.