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Creditors have USD 110 million trapped in Copenship

Claims against bankrupt Copenship stands at around USD 110 million in total. Bunker suppliers have the biggest sums trapped in the collapsed dry bulk operator. But there are doubts how many of the creditors will get their money back, sources tell ShippingWatch.

Tidligere CEO i Copenship, Michael Fenger.

The claims against Copenship have been calculated, and creditors have around USD 110 million in total caught in the bankrupt company that collapsed this winter in the historically low dry bulk market.

The bankrupt estate covers five Copenship companies: Copenship Overseas, Copenship MPP, Copenship Management, Copenship A/S and Copenship Bulkers, with claims against the latter unit - which was home to operating activities - representing a vast majority of the sum.

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