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Liquidation company puts an end to crisis in North German shipping bank

EUR 4.7bn in non-performing loans from the former HSH Nordbank have now been sold by a public liquidation company that has cleaned up after the North German shipping crisis.
The cleanup of HSH Nordbank, now called Hamburg Commercial Bank, has been completed with the sale of a billion-euro portfolio of non-performing shipping loans. | Photo: Daniel Bockwoldt/AP/Ritzau Scanpix
The cleanup of HSH Nordbank, now called Hamburg Commercial Bank, has been completed with the sale of a billion-euro portfolio of non-performing shipping loans. | Photo: Daniel Bockwoldt/AP/Ritzau Scanpix
by JENS THOMSEN

With the sale of a billion-euro portfolio of non-performing shipping loans, liquidation company portfoliomanagement of the North German bank HSH Nordbank has finally put an end to the financial aftermath of the 2008 financial crisis in German shipping.

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