Germany’s so-called ‘bad bank’ Portfoliomanagement (PM) has started a tender to sell its final portfolio of distressed shipping assets.
The company was formed in 2015 to wind down the legacy shipping portfolio of state-owned lender HSH Nordbank, now the privately owned Hamburg Commercial Bank.
PM said it intends to sell a portfolio consisting of about 50 insolvency claims and claims from solvent liquidations.
