Rebel investors take aim at MPC Container Ships rescue

A US bondholder is rebelling against the financial rescue plan of Oslo-listed MPC Container Ships (MPCC).

Fund manager Cohanzick Management says the restructuring proposal favours shareholders of the Oslo-listed company at the expense of bondholders.

It is demanding that the proposal is pulled.

That idea has received short shrift from MPCC which accuses the dissenting investor of seeking to "exploit" the post-Covid 19 recovery of the feeder boxship owner.