Greater ChinaTankers

Court approves Agritrade Resources debt restructuring

Hong Kong-listed Agritrade Resources has announced that the Supreme Court of Bermuda has permitted the board to work with joint provisional liquidators to implement a financial restructuring.

The board continues to retain the powers to conduct ordinary busines operations of the company.

Last month, Agritrade received two petitions filed by two creditors at the court to wind up the company after it failed to repay debt.

Agritrade mainly engages in energy trading and shipping. Its shipping subsidiary, Sea Oriental Lines, currently has one tanker in its fleet.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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