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OTHER NONCURRENT ASSETS
 9 Months Ended
Sep. 30, 2017
OTHER NONCURRENT ASSETS  
OTHER NONCURRENT ASSETS

8. OTHER NONCURRENT ASSETS

 

Other noncurrent assets consist of the following (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

September 30,

    

December 31,

 

 

 

2017

 

2016

 

Working capital for 2011 VLCC pool

 

$

1,900

 

$

1,900

 

Fresh start lease asset

 

 

1,083

 

 
1,183

 

Insurance claims

 

 

 —

 

 
588

 

Escrow deposits

 

 

 —

 

 
38

 

Long-term due from charters

 

 

 —

 

 
1,546

 

Total

 

$

2,983

 

$

5,255

 

 

Working capital for 2011 VLCC pool and Long-term due from charters represent amounts due from the 2011 VLCC Pool and the Atlas charter disputes. On May 9, 2017, the arbitration tribunal before which the dispute is being heard ruled that GMR Atlas LLC (a subsidiary of the Company) had been in breach of certain customer eligibility requirements as claimed by the Atlas claimant. Accordingly, during the nine months ended September 30, 2017, the Company wrote-off $1.5 million related to the Atlas charter dispute and the amount is recorded in General and Administrative, in the condensed consolidated statement of operations. See Note 16, commitments and contingencies for more details.