In a statement, managing directorAntonio Zacchello said all six of its vessels have been handed over to their lenders- Royal Bank of Scotland (RBS) and Credit Agricole.
“Our companies worked hard with thebanks and our creditors to devise a Chapter 11 reorganisation plan, but thatdid not prove possible,” he added. “Therefore we have agreed to a consensualliquidation plan which maximises the recovery for all parties.”
While
