Greenship Bulk, which trades over-the-counter in Oslo, has admitted it is in default of debt payments and is holding discussions with creditors to restructure its debts.
The Jacques de Chateauvieux vehicle said in a release today: “The difficult market conditions lead the company to enter into discussions with its lenders in view of obtaining a restructuration of its debt.
The contemplated solution includes a capital increase. Until a mutually acceptable solution can be reached, the company started to retain principal repayments in February 2016 and is currently in situation of default.”
