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OTHER NONCURRENT ASSETS
 12 Months Ended
Dec. 31, 2017
OTHER NONCURRENT ASSETS  
OTHER NONCURRENT ASSETS

11. OTHER NONCURRENT ASSETS

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31,

    

December 31,

 

 

 

2017

 

2016

 

Working capital for 2011 VLCC pool

 

$

1,900

 

$

1,900

 

Fresh start lease asset

 

 

1,048

 

 

1,183

 

Insurance claims

 

 

 —

 

 

588

 

Escrow deposits

 

 

 —

 

 

38

 

Long-term due from charters

 

 

 —

 

 

1,546

 

Total

 

$

2,948

 

$

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 year ended December 31, 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 consolidated statement of operations. See Note 18, commitments and contingencies for more details.