The bust Singapore dry bulk offshoot of India’s Mercator Group will be no more come Friday.
Mercator Lines (Singapore) went into judicial management in January last year, with debts of more than $165m with its fleet then being hived off to pay back creditors.
The judicial manager held preliminary discussions with several potential investors to explore transferring the company’s listing status and/or restructuring the company. However, these discussions went nowhere and now the judicial manager has sought to wind up the company with the hearing date for the winding-up application fixed for Friday.
