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Rickmers seeks trading suspension on going-concern risk

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Published Tue, Nov 15, 2016 · 09:50 PM

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Singapore

THE trustee-manager of Rickmers Maritime said on Tuesday that it is unable to pay a S$4.26 million bond interest due on Nov 15.

And if it fails to do so within five business days from Tuesday, this would constitute an "event of default", which would trigger cross-default and/or cross-acceleration clauses in other loan agreements.

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