Schedule 13D
CUSIP No. Y2685T115

 	UNITED STATES	 	
 	SECURITIES AND EXCHANGE COMMISSION	 	
 	Washington, D.C. 20549	 	
 	 	 	
 	SCHEDULE 13D/A	 	
 
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
 
Genco Shipping and Trading Limited
(Name of Issuer)
 
Common Stock, par value $0.01 per share
(Title of Class of Securities)
 
Y2685T115
(CUSIP Number)
 
David B. Charnin, Esq.
Strategic Value Partners, LLC
100 West Putnam Avenue
Greenwich, CT 06830
(203) 618-3500
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 
October 13, 2016
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  o
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
*  The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

Schedule 13D
CUSIP No. Y2685T115	
 	
 	1	Names of Reporting Persons
Strategic Value Partners, LLC
I.R.S. Identification No. of Above Person (VOLUNTARY)	
 	
 	2	Check the Appropriate Box if a Member of a Group (See Instructions)	
 	 	(a)	  o	
 	 	(b)	  o	
 	
 	3	SEC Use Only	
 	
 	4	Source of Funds
 Not Applicable	
 	
 	5	Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o	
 	
 	6	Citizenship or Place of Organization
 Delaware	
 	
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With	7	Sole Voting Power
 0	
	 	
	8	Shared Voting Power 
1,263,366 (1)	
	 	
	9	Sole Dispositive Power 
0	
	 	
	10	Shared Dispositive Power 
1,263,366 (1)	
 	
 	11	Aggregate Amount Beneficially Owned by Each Reporting Person 
1,263,366 (1)	
 	
 	12	Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares    o	
 	
 	13	Percent of Class Represented by Amount in Row (9) 
17.2% (2)	
 	
 	14	Type of Reporting Person 
OO	

(1) Consists of (i) 399,559 shares beneficially owned by Strategic Value Partners, LLC as the investment manager of Strategic Value Master Fund, Ltd. and (ii) 353,764 shares beneficially owned by SVP Special Situations III LLC as the investment manager of Strategic Value Special Situations Master Fund III, L.P., 100,547 shares beneficially owned by SVP Special Situations III-A LLC as the investment manager of Strategic Value Opportunities Fund, L.P. and 409,496 shares beneficially owned by SVP Special Situations II LLC as the investment manager of Strategic Value Special Situations Master Fund II, L.P. which may also be deemed to be beneficially owned by Strategic Value Partners, LLC as the managing member of each such investment manager entity.  The Reporting Person hereby expressly disclaims membership in a “group” (within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder) and disclaims beneficial ownership of the shares of Common Stock reported as beneficially owned by Centerbridge in filings with the Commission and the shares of Common Stock reported as beneficially owned by Apollo in filings with the Commission, and such shares are not included in the number of shares reported as beneficially owned by the Reporting Persons on these cover pages.
 
(2) Based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer’s Form 10-Q for the period ended June 30, 2016 filed with the Securities and Exchange Commission on August 9, 2016.
 
2 

 

Schedule 13D
CUSIP No. Y2685T115	
 	
 	1	Names of Reporting Persons
SVP Special Situations III LLC
I.R.S. Identification No. of Above Person (VOLUNTARY)	
 	
 	2	Check the Appropriate Box if a Member of a Group	
 	 	(a)	  o	
 	 	(b)	  o	
 	
 	3	SEC Use Only	
 	
 	4	Source of Funds
 Not Applicable	
 	
 	5	Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o	
 	
 	6	Citizenship or Place of Organization
 Delaware	
 	
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With	7	Sole Voting Power
 0	
	 	
	8	Shared Voting Power 
353,764	
	 	
	9	Sole Dispositive Power 
0	
	 	
	10	Shared Dispositive Power 
353,764	
 	
 	11	Aggregate Amount Beneficially Owned by Each Reporting Person 
353,764(1)	
 	
 	12	Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares    o	
 	
 	13	Percent of Class Represented by Amount in Row (9) 
4.8% (2)	
 	
 	14	Type of Reporting Person 
OO	

(1) The Reporting Person hereby expressly disclaims membership in a “group” (within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder) and disclaims beneficial ownership of the shares of Common Stock reported as beneficially owned by Centerbridge in filings with the Commission and the shares of Common Stock reported as beneficially owned by Apollo in filings with the Commission, and such shares are not included in the number of shares reported as beneficially owned by the Reporting Persons on these cover pages. In addtion, the Reporting Person disclaims beneficial ownership of the securities reported herein by the other Reporting Persons, and neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Person that it is the beneficial owner of any of the Common Shares reported herein by the other Reporting Persons for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership is expressly disclaimed by the Reporting Person.
 
(2) Based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer’s Form 10-Q for the period ended June 30, 2016 filed with the Securities and Exchange Commission on August 9, 2016.
 
3 

 

Schedule 13D
CUSIP No. Y2685T115	
 	
 	1	Names of Reporting Persons
SVP Special Situations III-A LLC
I.R.S. Identification No. of Above Person (VOLUNTARY)	
 	
 	2	Check the Appropriate Box if a Member of a Group	
 	 	(a)	  o	
 	 	(b)	  o	
 	
 	3	SEC Use Only	
 	
 	4	Source of Funds
 Not Applicable	
 	
 	5	Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o	
 	
 	6	Citizenship or Place of Organization
 Delaware	
 	
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With	7	Sole Voting Power
 0	
	 	
	8	Shared Voting Power 
100,547	
	 	
	9	Sole Dispositive Power 
0	
	 	
	10	Shared Dispositive Power 
100,547	
 	
 	11	Aggregate Amount Beneficially Owned by Each Reporting Person 
100,547(1)	
 	
 	12	Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares    o	
 	
 	13	Percent of Class Represented by Amount in Row (9) 
1.4% (2)	
 	
 	14	Type of Reporting Person 
OO	

(1) The Reporting Person hereby expressly disclaims membership in a “group” (within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder) and disclaims beneficial ownership of the shares of Common Stock reported as beneficially owned by Centerbridge in filings with the Commission and the shares of Common Stock reported as beneficially owned by Apollo in filings with the Commission, and such shares are not included in the number of shares reported as beneficially owned by the Reporting Persons on these cover pages. In addtion, the Reporting Person disclaims beneficial ownership of the securities reported herein by the other Reporting Persons, and neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Person that it is the beneficial owner of any of the Common Shares reported herein by the other Reporting Persons for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership is expressly disclaimed by the Reporting Person.
 
(2) Based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer’s Form 10-Q for the period ended June 30, 2016 filed with the Securities and Exchange Commission on August 9, 2016.
 
4 

 

Schedule 13D
CUSIP No. Y2685T115	
 	
 	1	Names of Reporting Persons
SVP Special Situations II LLC
I.R.S. Identification No. of Above Person (VOLUNTARY)	
 	
 	2	Check the Appropriate Box if a Member of a Group	
 	 	(a)	  o	
 	 	(b)	  o	
 	
 	3	SEC Use Only	
 	
 	4	Source of Funds
 Not Applicable	
 	
 	5	Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o	
 	
 	6	Citizenship or Place of Organization
 Delaware	
 	
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With	7	Sole Voting Power
 0	
	 	
	8	Shared Voting Power 
409,496	
	 	
	9	Sole Dispositive Power 
0	
	 	
	10	Shared Dispositive Power 
409,496	
 	
 	11	Aggregate Amount Beneficially Owned by Each Reporting Person 
409,496(1)	
 	
 	12	Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares    o	
 	
 	13	Percent of Class Represented by Amount in Row (9) 
5.6% (2)	
 	
 	14	Type of Reporting Person 
OO	

(1) The Reporting Person hereby expressly disclaims membership in a “group” (within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder) and disclaims beneficial ownership of the shares of Common Stock reported as beneficially owned by Centerbridge in filings with the Commission and the shares of Common Stock reported as beneficially owned by Apollo in filings with the Commission, and such shares are not included in the number of shares reported as beneficially owned by the Reporting Persons on these cover pages. In addtion, the Reporting Person disclaims beneficial ownership of the securities reported herein by the other Reporting Persons, and neither the filing of this Statement on Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Person that it is the beneficial owner of any of the Common Shares reported herein by the other Reporting Persons for purposes of Section 13(d) of the Act, or for any other purpose, and such beneficial ownership is expressly disclaimed by the Reporting Person.
 
(2) Based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer’s Form 10-Q for the period ended June 30, 2016 filed with the Securities and Exchange Commission on August 9, 2016.
 
5 

 

Schedule 13D
CUSIP No. Y2685T115	
 	
 	1	Names of Reporting Persons
Victor Khosla
I.R.S. Identification No. of Above Person (VOLUNTARY)	
 	
 	2	Check the Appropriate Box if a Member of a Group	
 	 	(a)	  o	
 	 	(b)	  o	
 	
 	3	SEC Use Only	
 	
 	4	Source of Funds
 Not Applicable	
 	
 	5	Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)      o	
 	
 	6	Citizenship or Place of Organization
 United States	
 	
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With	7	Sole Voting Power
 0	
	 	
	8	Shared Voting Power 
1,263,366 (1)	
	 	
	9	Sole Dispositive Power 
0	
	 	
	10	Shared Dispositive Power 
1,263,366 (1)	
 	
 	11	Aggregate Amount Beneficially Owned by Each Reporting Person 
1,263,366 (1)	
 	
 	12	Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares    o	
 	
 	13	Percent of Class Represented by Amount in Row (9) 
17.2% (2)	
 	
 	14	Type of Reporting Person 
OO	

(1) Consists of (i) 399,559 shares beneficially owned by Strategic Value Partners, LLC as the investment manager of Strategic Value Master Fund, Ltd. and (ii) 353,764 shares beneficially owned by SVP Special Situations III LLC as the investment manager of Strategic Value Special Situations Master Fund III, L.P., 100,547 shares beneficially owned by SVP Special Situations III-A LLC as the investment manager of Strategic Value Opportunities Fund, L.P. and 409,496 shares beneficially owned by SVP Special Situations II LLC as the investment manager of Strategic Value Special Situations Master Fund II, L.P. which may also be deemed to be beneficially owned by Strategic Value Partners, LLC as the managing member of each such investment manager entity. Mr. Khosla is the sole member of Midwood Holdings, LLC, which is the managing member of Strategic Value Partners, LLC and is also the indirect majority owner and control person of Strategic Value Partners, LLC, SVP Special Situations III LLC, SVP Special Situations III-A LLC and SVP Special Situations II LLC. The Reporting Person hereby expressly disclaims membership in a “group” (within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder) and disclaims beneficial ownership of the shares of Common Stock reported as beneficially owned by Centerbridge in filings with the Commission and the shares of Common Stock reported as beneficially owned by Apollo in filings with the Commission, and such shares are not included in the number of shares reported as beneficially owned by the Reporting Persons on these cover pages.
 
(2) Based on 7,354,449 shares of Common Stock outstanding as of August 9, 2016, as reported in the Issuer’s Form 10-Q for the period ended June 30, 2016 filed with the Securities and Exchange Commission on August 9, 2016.
 
6 

 

Schedule 13D
CUSIP No. Y2685T115	 	 	
 
AMENDMENT NO. 7 TO SCHEDULE 13D
 
Reference is hereby made to the statement on Schedule 13D filed with the Securities and Exchange Commission on behalf of the Reporting Persons with respect to the Common Stock of the Issuer on July 22, 2015, Amendment No. 1 thereto filed on November 12, 2015, Amendment No. 2 thereto filed on February 18, 2016, Amendment No. 3 thereto filed on May 13, 2016, Amendment No. 4 thereto filed on June 8, 2016, Amendment No. 5 thereto filed on June 30, 2016, and Amendment No. 6 thereto filed on October 6, 2016 (as so amended, the “Schedule 13D”). Terms defined in the Schedule 13D are used herein as so defined.
 
Item 4. Purpose of Transaction.
 
Item 4 is hereby amended and supplemented with the following:
 
Peter Kirchof, a Managing Director of SVP, has served on the Issuer’s Board of Directors since February 17, 2016.  Mr. Kirchof intends to resign from the Issuer’s Board of Directors.  SVP has proposed a candidate to replace Mr. Kirchof as a director of the Issuer.
 
7 

 

Schedule 13D
CUSIP No. Y2685T115	 	 	
 
SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
Dated: October 13, 2016

 	STRATEGIC VALUE PARTNERS, LLC	
 	 	
 	By:	/s/ James Dougherty	
 	 	Name:	James Dougherty	
 	 	Title:	Fund Chief Financial Officer	

 	SVP SPECIAL SITUATIONS II LLC	
 	 	
 	By:	/s/ James Dougherty	
 	 	Name:	James Dougherty	
 	 	Title:	Fund Chief Financial Officer	

 	SVP SPECIAL SITUATIONS III LLC	
 	 	
 	By:	/s/ James Dougherty	
 	 	Name:	James Dougherty	
 	 	Title:	Fund Chief Financial Officer	

 	SVP SPECIAL SITUATIONS III-A LLC	
 	 	
 	By:	/s/ James Dougherty	
 	 	Name:	James Dougherty	
 	 	Title:	Fund Chief Financial Officer	

 	 	/s/ Victor Khosla	
 	 	Victor Khosla	
 
8