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Creditors in distressed bunker company risk incurring major losses

Several large banks risk losing big time on their loans to crisis-stricken GP Global if the bunker company has to do a fire sale of its assets in connection with a restructuring, reports media.
Prerit Goel is joint managing director of GP Global, which is undergoing | Photo: PR-foto.
Prerit Goel is joint managing director of GP Global, which is undergoing | Photo: PR-foto.
by CHRISTIAN CARLSEN

Creditors in crisis-stricken bunker company GP Global could end up booking major losses if the company is forced into carrying out a fire sale of its assets, reports media Global Trade Review, based on court documents submitted to a court in Singapore by a GP Global subsidiary.

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