Rebel shareholders in debt-laden DOF Group have been told there is no more time for talks on its vital refinancing deal.
A negotiated $1.9bn debt-swap proposal was voted down by investors at a meeting last week, leaving the offshore vessel owner considering an emergency state-led “reconstruction” or bankruptcy.
On Thursday, DOF published a letter signed by lenders including DNB, ABN Amro, BNP Paribas, Deutsche Bank, Danske Bank and SpareBank.
