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Torm eyes the end of two-year reshuffle

Torm has received a waiver from its lenders as part of the efforts to finalize the carrier's restructuring agreement. The agreement is expected completed in the 1st quarter this year and will bring significant changes for the company's shareholders.

Torm is working full speed to finalize the restructuring plan aimed at ensuring the carrier's continued operations following the complete downturn after the financial crisis.

The company has announced that the plan, expected done in the 1st quarter this year "has today received confirmation that majority lenders have waived certain milestone events of default" in relation to working capital facility.

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