Monarch Alternative Capital has sold its entire stake in Scorpio Bulkers, blaming the New York-listed shipowner's latest fund-raising drive.
The asset manager told the US Securities & Exchange Commission (SEC) that it now owns 0% of the bulker owner. It had reported holding 10.4% just two days earlier.
Monarch said the move was partly motivated by a "general lack of confidence" in management at the bulker owner.
And
