Nordic Shipholding’s voluntary liquidation set in motion

Denmark-based shipowner Nordic Shipholding is moving forward with a voluntary liquidation process.

Illustration; Image courtesy Euronav

The company informed earlier today that following an extraordinary general meeting held on December 23, the board of directors passed a proposal to liquidate the company by voluntary solvent liquidation.

As a result, the board of directors and the executive board resigned, and the company’s name was changed to “Nordic Shipholding A/S in liquidation“. It has been decided to appoint Louise Celia Korpela from Gorrissen Federspiel Advokatpartnerselskab based in Copenhagen as liquidator.

The liquidation can be completed after the expiry of a statutory three-months’ notice period during which the creditors of the company may submit any claims against the company.

After the expiry of the notice period, an additional extraordinary general meeting will be convened to decide on the completion of the liquidation of the company. The liquidation is expected to be completed in the second half of 2023.

The tanker owner said that no distribution of funds to the shareholders is anticipated upon completion of the liquidation.

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The decision follows the company’s disposal of the last remaining vessels at the beginning of this year.

Specifically, Nordic Shipholding entered into a sale and purchase deals to sell the Nordic Anne, Nordic Amy and Nordic Agnetha, all built in 2009.

The sale was pursued after the company failed to find a merger partner and secure backing from lenders to preserve liquidity.

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