The Export-Import Bank of China (CEXIM) signed off on the debtor's request to provide an intercompany loan of up to $15m to various subsidiaries while Danish Ship Finance approved a pact that paves the path for the remaining $10m, according documents filed with a bankruptcy court in Delaware.
If the judge overseeing the ailing US shipowner’s Chapter 11 case approves the request, the cash will be used to cover basic vessel operating expenses such as bunkers, insurance, crew wages, repairs and port fees.
“Given
