MEXICO CITY, March 15 (Reuters) – Creditors to Oceanografia, a Mexican oil services company at the center of an alleged fraud that forced Citigroup to cut its 2013 profit, have seized a ship that was used as collateral for debt issued by the company.
Norsk Tillitsmann, the Oslo-based trustee for some of Oceanografia’s bonds, is preparing to sell the ship, OSA Goliath, to recoup funds for lenders, according to a letter published on Saturday on the trustee’s website.
The ship was seized on Friday in Aruban waters on Norsk Tillitsmann’s request, the letter said.
A spokesman for Oceanografia, whose main business was providing services for Mexico’s state oil company Pemex, did not immediately respond to a request for comment.
Citigroup said last month it uncovered at least $400 million in bogus loans to Oceanografia at its Mexican subsidiary, Banamex.
Oceanografia had borrowed from Banamex using expected payments from Pemex as collateral.
Mexico’s government has taken control of Oceanografia and begun a criminal investigation.
The FBI and the U.S. Securities and Exchange Commission are investigating the transactions, people familiar with the probes have said.
COPENHAGEN, April 15 (Reuters) – Shipping company Maersk has not made any deployment changes after a Portuguese-flagged container ship was seized by Iran in the Strait of Hormuz on Saturday, the Danish company said on Monday. “We find recent...
WASHINGTON, April 15 (Reuters) – The FBI has opened a federal criminal investigation into the deadly collapse of a Baltimore bridge last month when a ship crashed into one of its supports,...
By Daryna Krasnolutska (Bloomberg) Russia and Ukraine may have struggled to shift things significantly on the battlefield for more than 16 months, but a new phase of the war is moving...
April 14, 2024
Total Views: 2110
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.