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Banks settled to avoid costly battle with OW Bunker's estate

The risk of a strenuous court process made OW Bunker's former banks, headed by Dutch ING Bank, agree to a settlement with the bankruptcy estate, shows a proposal for the USD 28 million settlement, which ShippingWatch has read.

Photo: Francois Lenoir / Reuters / Ritzau Scanpix

The prospect of a protracted and costly court case made OW Bunker's former banks agree to a settlement with the estate left by the collapsed bunker group.

As previously reported by ShippingWatch, a consortium of banks headed by Dutch ING Bank and the Danish bankruptcy estate of OW Bunker recently reached a settlement.

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