Torm, which has already undertaken one bank-backed overhaul, says a proposal has been received for a second makeover.
While details are limited, Torm does say more than 50% of its lenders, plus Oaktree, are involved.
Torm chief executive Jacob Meldgaard told TradeWinds after the company’s second quarter results he expected the long anticipated restructuring would be completed before February 2015.
The Danish owner finished a first round of restructuring in early 2012 that saw banks take control of over 70% of the stock.
HSH
