Enterprise Containership Detained; Repayment of $175 Million Bond Forced

Tuesday, August 07, 2001
Bondholders who financed the shipping company Enterprises Shipholding, said on Tuesday they had arrested one of the company's newest containerships, the Ocelotmax, to force repayment of a $175 million bond on which it defaulted in June.

"The Ocelotmax was arrested to secure the bondholders' unquestionable right to judgment and payment of their claims against Enterprises," said a statement from the bondholders.

"While the bondholders have initiated multiple efforts to address the default with the company's management and directors, the company has utterly failed to respond to such efforts," it added.

Enterprise's Director and CFO Kostas Koutsoubelis denied the company had failed to respond.

"It is us who tried to initiate discussions with the bondholders," he said.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Denmark's Budget Gap May Flirt with EU Limit if Oil Stays at $50

Denmark's government estimates its budget would lose 7.5 billion Danish crowns ($1.1 billion) if oil prices remained around $50 a barrel, according to a document

Sweden-Poland Maritime Link Improved

The EU's TEN-T Program will co-fund with over €2 million the development of the sea ports of Trelleborg (Sweden) and Świnoujście (Poland), to increase their competitiveness and sustainability,

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1003 sec (10 req/sec)