Creditors could block a bid to take over a dozen bulkers formerly controlled by Deiulemar Shipping that they deem to have been sold at around $50m beneath market value.
Heron Ventures’ efforts to snap up the ships at bargain prices could come unstuck if creditors contest the sale.
The question mark over the deal came to light as Petros Pappas’s Oceanbulk emerged as a minority partner in Heron, alongside Augustea, Atlantica and Bunge.
Creditors
