News / Creditor banks agree to repayment extension while restructure plan for HMM is devised

30/03/2016

Hyundai Merchant Marine (HMM) today signed a voluntary agreement (VA) with major creditor Korea Development Bank (KDB) and other creditor banks, after apparently making “significant progress” on its charter rate cut negotiations with shipowners.

A company statement said: “Originally, the creditor banks were planning to sign the voluntary ...

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