Toisa has struck an agreement with Hyundai Heavy Industries that will pump $45m into the shipowner's New York restructuring case.
The Gregory Callimanopulos-led tanker and offshore vessel owner has asked a US bankruptcy court to approve the settlement agreement, which would put an end to a shipbuilding spat with HHI.
The request comes as part of Toisa's Chapter 11 case launched in January with a fleet of 46 vessels directly or indirectly controlled.
