Havila Shipping: Risk of bankruptcy

Norwegian offshore carrier Havila Shipping warns in a stock exchange notice that bankruptcy is the most likely consequence if the carrier's bondholders do not accept the rescue plan recently submitted by the carrier.

There will no longer be a Havila Shipping if bondholders resist the rescue plan which Havila presented to its investors last week.

"In relation to the contingency plan referred to in said stock exchange notice, [the company would –,.ed] like to clarify that the likely alternative in the event that the Restructuring Plan is disapproved by the unsecured bondholders, is bankruptcy," writes Havila Shipping in a stock exchange notice on Monday.

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