Court rejects HSH's move on carrier in receivership

A court in Singapore has rejected a request from HSH Nordbank to place struggling carrier Mercator under external administration.

HSH Nordbank's attempt at installing a new, temporary management at dry bulk carrier Mercator has been rejected by a court in Singapore, reports Seatrade Maritime.

But this has not made the bank give up on its efforts, and the media reports that HSH has already filed another request to have the carrier placed under administration at a new hearing on November 20. The German shipping bank helped force the carrier into receiverships when HSH Nordbank in early September asked the authorities in Singapore to take charge of the company.

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