The collapsed German shipping group Rickmers Holding will be liquidated after it emerges from its court self-administration process.
Bondholders representative One Square Advisory Services told TradeWinds: "The consequence from the application for the termination of the self-administration is that there won’t be an insolvency plan and the insolvency proceedings will commence as regular insolvency proceedings.
"The company won’t continue business after the liquidation of the remaining assets (which are non-material)."
