News / Debt restructure may be Rickmers' last hope of avoiding bankruptcy

Fresh from the disappointment of Rickmers Maritime Trust in Singapore being wound up, Hamburg-headquartered Rickmers Holdings has announced that its shareholding is set to be dramatically changed, with sole owner Betram Rickmers reduced to a 24.9% stake.

The group’s creditors and bondholders, led by HSH Nordbank, will form a Luxembourg-based LuxCo to assume all liabilities of the group, take the remaining 75.1% shareholding and assume the debt on the bond that runs from 2013 to 2018, which is subject to restructuring.

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