HSH Nordbank has been granted “physical control” over the four-bulker fleet of Belgium's Sobelmar.
US Bankruptcy Judge Ann Nevis issued the order Friday, effectively giving HSH management of the vessels, amid the bitter denouement of the shipowner's Chapter 11 restructuring in Connecticut.
The order gives the German bank the right to take steps necessary in case she widens her order beyond management in the future, for example, if she grants HSH's request to foreclose on the vessels and potentially sell them.
Crew
