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Courts dismiss HSH Nordbank move on Mercator Lines (Singapore)

Courts dismiss HSH Nordbank move on Mercator Lines (Singapore)
HSH Nordbank’s attempt to get an interim judicial manager appointed to run cash-strapped Mercator Lines (Singapore) has been dismissed by the courts.

The application heard at 5pm yesterday was dismissed by the Singapore court.

HSH Nordbank has already applied to have the company placed under judicial management with a court hearing set for 20 November.

Meanwhile the Singapore-listed arm of Mercator is seeking to restructure its operations through a court-approved scheme of arrangement. The hearing over the possible scheme is also set for 20 November.