Havila Shipping avoided bankruptcy

Havila ShippingPhoto:Havila Shipping ASA

Havila Shipping avoid bankruptcy after the company agrees with two-thirds of bondholders on a rescue plan for the debt-ridden company.

– The Company is pleased to have received support from more than 2/3 of the outstanding debt of any company’s bond, mentioned in a press release from Fosnavåg-shipping on Monday.

Banks which have lent the company about 4.5 billion, on Thursday warned that if the bondholders did not vote for the rescue package that was already negotiated, they would consider Havila bankruptcy, writes Dagens Næringsliv.

The deadline was set at 15 o’clock Monday and at 13:30 it became clear that bondholders also agreed to the deal.


Source: NTB scanpix / Norway Today