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Mercator Lines (Singapore) vessel faces arrest by Maybank

Mercator Lines (Singapore) vessel faces arrest by Maybank
Woes continue to mount for struggling Mercator Lines (Singapore) as Maybank plans to arrest one of its vessels.

Mercator Lines said Maybank had given notice it had taken steps to enforce security on the vessel Chitra Prem through banking facilities the bank provided to Chitra Prem Pte Ltd.

Another creditor HSH Nordbank is seeking to have a court appointed judicial manager to run the company. Court hearings on the appointment of a judicial manager, and possible scheme of arrangement being proposed by Mercator Lines were adjourned on 20 November till no later 8 January 2016.