Nordea Bank AB (NDA)’s Singapore unit seized two vessels from Korea Line Corp’s local subsidiary on Friday in a bid to recoup $64.9 million in debt, Seatrade-asia reports.
Nordea Bank arrested the Blue Diamond ship on Friday and the Blue Coral earlier this month. The ships were pledged as collateral for an $82 million loan in October 2006, the bank said in a March 17 lawsuit with the Singapore High Court. ?Three other vessels owned by the Singapore unit have been seized by other creditors in the US, according to Nordea’s court filing.
Nordea Bank arrested the Blue Diamond ship on Friday and the Blue Coral earlier this month. The ships were pledged as collateral for an $82 million loan in October 2006, the bank said in a March 17 lawsuit with the Singapore High Court. ?Three other vessels owned by the Singapore unit have been seized by other creditors in the US, according to Nordea’s court filing.