Liberty Sues ISC.(Liberty Shipping Group cases with International Shipholding Corp.)

BYLINE: Peter T. Leach

Liberty Shipping Group, which has been trying to acquire International Shipholding Corp. said today that it has filed a complaint against the ISC and its directors in the Court of Chancery of the State of Delaware.

Liberty said it is "asking the court to compel the defendants to fulfill their fiduciary duties to all International Shipholding stockholders in light of International Shipholding's continuing pattern of delay and obstruction."

Liberty, a dry bulk specialist, also filed a second complaint in the federal District Court for the Southern District of New York against International Shipholding and certain executives and …