Excel Maritime restructuring approved
Shipowner Gabriel Panayotides' stock listed bulk carrier Excel Maritime has sidestepped a bankruptcy and can now move on to a restructuring of the company, as the process is approved by a US court.
BY KATRINE GRØNVALD RAUN
Greek shipowner and former main shareholder in Torm, Gabriel Panayotides, can move on in the process related to dry bulk carrier Excel Maritime, which has spent a long time balancing on the bring of bankruptcy. However, on Monday a US court approved the company's restructuring plan at a hearing in New York, according to several media.
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