ADMINISTRATORS were called in on Friday (Oct 31) to deal with Britannia Bulk Plc, which went into administration under the Insolvency Act 1986 of England and Wales.
In a letter seen by Lloyd’s List, BDO Stoy Hayward advised those who had existing contract or charter obligations with Britannia to take “all necessary steps to mitigate any claims arising under your contract or charter with the company”.
On Friday the New York Stock Exchange said it had agreed that the company be de-listed. The NYSE had already suspended trading of Britannia Bulk Holdings.
Wow. That was fast. The warnings about their financial problems came only last week.
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