Endangered Hamburg owner Marenave Schiffahrts has managed to get yet another extension from its creditors to hold off demanding backpayments. Marenave now has until the end of this month to get a restructuring in place.
“The negotiations on agreements on the restructuring and release of liability between the company and the financing banks are being continued,” the company said in a release today.
Last month, Splash reported that the Offen Group and another German investor had agreed to stump the necessary cash to stave off bankruptcy at Marenave. Ernst Russ had previously been building up a stake in the line.