Winding up of Rickmers Maritime completed, notes to delist on Aug 30

THE winding up of Rickmers Maritime has been completed and consequently, the units of the trust and its notes shall cease to exist, said its trustee-manager in a Singapore Exchange (SGX) filing on Tuesday.

Accordingly, the notes will also be delisted from the SGX with effect from 9am on Aug 30, 2017, it said.

The final distribution to the unsecured creditors of the trust, in accordance with the final distribution statement reviewed by Pricewaterhouse Coopers LLP, was completed on Aug 15, 2017. The equivalent payments, representing a recovery of about 12.1 per cent to all unsecured creditors of the trust, have been made, it said.

There will be no further distributions or payments, cash or otherwise, to the unsecured creditors of the trust, including the holders of the S$100 million 8.45 per cent notes due 2017.

The outstanding amount due on the notes has been paid to the notes trustee, DB International Trust (Singapore) Pte Limited. This represents the final payment on the outstanding notes to the notes holders and the trust has been wound up as at Aug 16, 2017.

The notes trustee will be making arrangements with the Central Depository (CDP) to credit the relevant distribution amount to each noteholder based on the records of CDP, it said.