Commitments and Contingencies (Predecessor)

12 Months Ended

4 Months Ended

Mar. 31, 2015

Jul. 28, 2013

Commitments and Contingencies

Commitments and Contingencies

19. Commitments and Contingencies

Commitments under Newbuilding Contracts

As of March 31, 2015, we had $871.4 million of commitments under shipbuilding contracts and supervision agreements for sixteen newbuildings. We expect to settle these commitments during the twelve months ended March 31, 2016.

Commitments under Operating Leases

We had the following commitments as a lessee under operating leases relating to our United States, Greece and United Kingdom offices:

	March 31, 2015
Less than one year	$	376,620
One to three years	607,020
Three to five years	140,370
Total	$	1,124,010

Other

From time to time we expect to be subject to legal proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. Such claims, even if lacking in merit, could result in the expenditure of significant financial and managerial resources. We are not aware of any claim, which is reasonably possible and should be disclosed or probable and for which a provision should be established in the accompanying consolidated financial statements.

Predecessor

Commitments and Contingencies

Commitments and Contingencies

12.Commitments and Contingencies

From time to time the Owning Companies expect to be subject to legal proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. Such claims, even if lacking in merit, could result in the expenditure of significant financial and managerial resources. The Owning Companies are not aware of any claim, which is reasonably possible and should be disclosed or probable and for which a provision should be established in the accompanying financial statements.