HSH Nordbank’s application to have Mercator Lines (Singapore) managed by an interim judicial manager has been dismissed.
News of the Singapore high court's decision emerged late on Thursday evening, according to a statement from Mercator.
In September the German bank applied to have the bulker owner placed under the management of a court-appointed company.
Prior to the court’s decision Mercator’s management had said that with the current uncertainty in relation to the restructuring of the company, it was unable to reasonably form a view that the company can continue as a going concern till such time when the judicial manager application is dismissed, and a restructuring of the company’s debts is successful.
Mercator
