HOLT GROUP NAMES HAYS CEO

HOLT GROUP NAMES HAYS CEO    The Holt Group Inc., the Philadelphia-based shipping, terminal operating and logistics group operating under Chapter 11 bankruptcy protection, has named Thomas Hays III as chief executive officer, replacing Tom Holt Jr.
   Hays, of Nachman Hays Brownstein, has served as chief restructuring officer for the company. Holt will continue to oversee management of the Navieras container shipping unit, which serves the U.S./Puerto Rico Jones Act trade.
   The appointments were part of terms agreed upon between the company and its creditors, as presented before U.S. Judge Mary Walrath of the U.S. Bankruptcy Court in Wilmington, Del. The
   'The stipulation before the court today was agreed to by the committee, the banks and other creditors representing the majority of the parties in the Holt's case,' said Brian Brookover, chairman of the committee of unsecured creditors.
   'This agreement will not change any aspect' of the Holt Group's operation, said John Horstmann, attorney for the First Union National Bank, as agent for Holt Group's secured bank group.
   The Holt Group filed for bankruptcy protection on March 21, 2001. At that time, Holt listed assets worth $257.5 million and liabilities of $197.7 million.
   Besides Navieras, the group manages and operates marine terminals in Philadelphia, Wilmington, Jacksonville and San Juan, Puerto Rico.