Torm's former owner files for bankruptcy
Dry bulk shipping company Excel Maritime has now filed for bankruptcy protection under Chapter 11 on the New York Stock Exchange. This happens four weeks after the company admitted that it was ready to enter bankruptcy proceedings.
BY KATRINE GRØNVALD RAUN
It's not easy to operate a shipping company carrying a debt of more than USD 1 billion. Something Greek dry bulk shipping company Excel Maritime, which is controlled by former Torm owner Gabriel Panayotides, has been forced to admit, as the company has now applied for bankruptcy protection under Chapter 11 at the New York Stock Exchange.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Crucial day for Torm management
For subscribers
.jpg&w=384&q=75)
