Axis Offshore criticized for forcing rescue plan through

The Oslo Stock Exchange criticizes Axis Offshore for unequal treatment of bondholders in favor of its owners, Lauritzen Fonden and Hitec Vision, in forcing the adoption of a rescue plan at a meeting this summer. The owners are now in the process of selling the company to Norwegian Prosafe.

by NIKLAS KRIGSLUND

Axis Offshore forced through a disputed rescue plan by selling bonds to its owners, Lauritzen Fonden and Hitec Vision, not long before a crucial meeting with lenders this summer.

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