Will judicial management force asset-stripping of Ocean Tankers?
The tanker operator, which has been deemed a viable business, was forced to file for judicial management because the market lost confidence in its management. That has now put the shipping business at risk of being gradually divested of its assets to make way for debt recovery in more creditor-driven legal proceedings
Singapore’s judicial management system has so far achieved limited success in reviving and rehabilitating distressed companies
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