Law360, New York ( June 2, 2014, 12:40 PM EDT) -- Last week's approval of a $1.5 billion rights offering in the Overseas Shipholding Group Inc. case highlights the usefulness of rights offerings as a creative alternative to traditional methods of raising funds needed for plan distributions and/or to provide post-confirmation capital.[1] Rights offerings, which typically give certain parties-in-interest the right to purchase securities in the reorganized debtor, have been used in bankruptcy cases since at least the early 1990s and are being used more frequently today given the sophisticated, nontraditional financing entities involved in bankruptcy cases.[2] In order to provide more information regarding rights offerings, the following gives an overview of the key features of rights offerings and their potential benefits, as well as a summary of significant rights offering cases and practical considerations to keep in mind when analyzing rights offerings....