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IN RE NAVIGATOR GAS TRANSPORT PLC

No. 03-10471 (ALG).

358 B.R. 80 (2006)

In re NAVIGATOR GAS TRANSPORT PLC, et al., Reorganized Debtors.

United States Bankruptcy Court, S.D. New York.

December 29, 2006.

Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton, & Garrison LLP, by Alan W. Kornberg, Esq. Maria T. Vullo, Esq., Stacey A. Shorthall, Esq., Elizabeth McColm, Esq., New York, NY, Attorneys for Official Committee of Unsecured Creditors Committee, Movant.

Morgan, Lewis & Bockius LLP, by Andrew D. Gottfried, Esq., Jay Teitelbaum, Esq., New York, NY, Attorneys for Pro-Consult Limited.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

Introduction

Navigator Gas Transport PLC, five of its ship-owning subsidiaries, and its parent holding company, Navigator Holdings PLC (collectively "the Debtors"), filed for Chapter 11 protection on January 26, 2003. The Debtors' business involved the ownership and operation of vessels which were utilized principally in the shipping of liquefied...

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