The court-appointed manager of defunct bulker owner Mercator Lines has torn up a deal to transfer its Singapore stock exchange listing to two businessmen.
Judicial manager Yit Chee Wah said an April agreement with Nickolaos Mitropoulous and Dimitrios Podaridis was ended due to the failure of the buyers to meet conditions, despite several deadline extensions.
Yit will now recommence efforts to find other potential investors.
