Denmark-based Nordic Shipholding is to be wound down following the disposal of its entire fleet of product tankers earlier this year.
Backed by its majority shareholder, Nordic Maritime, the company is calling for a general meeting to initiate a voluntary solvent liquidation.
No distribution of funds to the shareholders is anticipated upon completion of the liquidation, the company said.
Nordic Maritime has agreed to waive the necessary part of its loan to enable the liquidation to be solvent, the company said, adding that it expects its aggregate cash balance will be enough to cover the liquidation expenses and settlement of all creditors other than the main shareholder loan.
Financially troubled Nordic annou…
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