Rickmers Maritime investor withdraws bid to halt fleet sale to Navios

A Rickmers Maritime noteholder who sought an injunction to stop the sale of the entire Rickmers fleet to Greek owner Navios has withdrawn the application today and discontinued his court case against the trust.

Kwok Kian Tow Peter, who holds S$250,000 worth of Rickmer’s S$100m 8.45% notes, sought the injunction last week in a bid to halt the sale of the trust’s 14 vessels for $113m.

“The trustee-manager urges all creditor parties to abstain from actions that may jeopardize or delay the orderly wind-up of the trust, which could adversely impact value and timing of any recoveries,” Rickmers said in a statement.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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