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