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Media: OW's biggest bank divests massive debt claim

Major Dutch bank ING, which together with a series of other banks provided enormous credits for OW Bunker, has allegedly divested its USD 700 million debt, report several sources familiar with the process, according to media Ship & Bunker.

Photo: Kasper Palsnov/Jyllands-Posten

Dutch ING Bank NV, which headed OW Bunker's consortium of banks, has allegedly sold its claim in the estate after the Danish bunker company that collapsed approximately one year ago. A debt totaling USD 700 million, reports Ship & Bunker, citing sources familiar with the process.

The debt stems from a credit facility provided by 13 banks, headed by ING, just ten months prior to the surprise collapse of the bunker company. The Dutch bank itself declines to comment on the matter when approached by Ship & Bunker.

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