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REORGANIZATION ITEMS, NET | 3 Months Ended
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Mar. 31, 2016
REORGANIZATION ITEMS, NET |
REORGANIZATION ITEMS, NET | 16 — REORGANIZATION ITEMS, NET On April 21, 2014 (the “Petition Date”), GS&T and its subsidiaries other than Baltic Trading and its subsidiaries (collectively, the “Debtors”) filed voluntary petitions for relief (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The Company subsequently emerged from bankruptcy on July 9, 2014, the Effective Date. Refer to the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2015 for further detail regarding the bankruptcy filing. Reorganization items, net represents amounts incurred and recovered subsequent to the bankruptcy filing as a direct result of the filing of the Chapter 11 Cases and are comprised of the following:
|  | For the Three Months Ended March 31, |
|  | 2016 |  | 2015 |
Professional fees incurred |  | $ | 69 |  | $ | 278 |
Trustee fees incurred |  | 25 |  | 242 |
Total reorganization fees |  | $ | 94 |  | $ | 520 |
Total reorganization items, net |  | $ | 94 |  | $ | 520 |

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