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Injunction hearing on Rickmers' proposed US$113m asset sale adjourned

Published Mon, May 15, 2017 · 09:50 PM
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Singapore

SINGAPORE'S High Court on Monday adjourned for a week the hearing of an injunction filed by a noteholder against the proposed US$113 million sale of the entire fleet of insolvent shipping trust Rickmers Maritime.

The injunction has been filed by a single noteholder. Being the first legal proceeding of its kind commenced against a listed shipping trust in Singapore , this may turn out to be a test case of how far noteholders can push for recourse against insolvent entities.

KEYWORDS IN THIS ARTICLE

Insolvency

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