One of DOF Group's banks has demanded repayment of a $47m loan after the Norwegian shipowner imposed a repayment freeze on the company amid a restructuring effort.
The outfit, hit by a severe downturn in the offshore vessel sector, had forged standstill deals with some banks in May, pushing out payments to 30 September.
But the offshore vessel owner had also warned that it halted some principal and interest repayments unilaterally, and could not guarantee it would not face action from banks that had refused to...
