December deals: A Christmas story
JKL Partners and a unit of South Korean conglomerate Harim Group were named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean on December 17. This was slightly more generous to those looking forward to a seasonal break than the process for Korea Line, another of the country’s distressed bulk carriers, at the end of 2012.
The sale process was officially launched late afternoon on December 21, the Friday before what most people treated as a long weekend, given that Christmas Day fell on the following Tuesday. The deadline...
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