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Torm secures signatures for new rescue deal

The proposed restructuring agreement for Torm's sky high debt has been signed. According to chairman of the board, Flemming Ipsen, this is a milestone in resurrecting the carrier to its former strength.

After the debt-stricken carrier Torm negotiated a locked text for forbearance from lenders, the papers have now been signed.

The carrier announced this in a press release Friday, just one day after the carrier's general assembly.

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