A single bondholder of Rickmers Maritime Trust (RMT) has ended his efforts to block the sale of the company’s entire fleet to Greece’s Navios Group.

RMT said Peter Kwok Kian Tow has withdrawn his injunction to prevent the disposal of 14 boxships to the Angeliki Frangou-controlled company.

A hearing regarding the case was initially scheduled to take place last Monday and was later adjourned to 22 May.