The creditors of bankrupt Rickmers Maritime have approved the sale of its remaining nine ships for a total consideration of $54m to Greece’s Navios group.

MSC it is actively monitoring the situation in regard to three vessels it has on time charter from bankrupt Rickmers Group.

Rickmers Group has filed for insolvency on Thursday, making it the most high profile casualty in Germany’s shipping sector, after its key lender HSH Nordbank rejected a restructuring plan a day earlier on Wednesday.

German shipowner Rickmers Group is to file for insolvency after HSH Nordbank denied approval for planned restructuring.

Rickmers Group has warned bondholders that the company will face insolvency if they do not vote in favour of financial restructuring plans.

A disgruntled individual bondholder of bankrupt Rickmers Maritime has dropped a suit aimed blocking the sale of the trust’s fleet to Navios Maritime Partners.

Germany’s Rickmers Group has failed to secure the majority support needed from bondholders to carry out a proposed restructuring, prompting the company to make a last ditch effort to invite bondholders for a vote again.

Bertram Rickmers is ready to give up 75.1% of his ownership of Rickmers Group under a proposed restructuring.

Rickmers Maritime is being wound-up after failing to agree a financial restructuring.

Beleaguered Singapore shipping trust Rickmers Maritime has until 15 April to present a revised restructuring plan to its main financier HSH Nordbank.

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