Independent journal on economy and transport policy
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Thud of the title of Horizon Lines to Wall Street
The American shipowning company has shown the possible resource to the controlled administration
March 30, 2011
The admission by the shipowning company American Horizon Lines not to be able to respect the next agreed terms of payment with own backers has made to collapse the title of the company on the securities market. Past monday Horizon Lines, introducing budget 2010, had shown the possibility to appeal to the administration controlled previewed from the American bankrupt law if the creditors ask the full respect for the contractual clauses that would allow to renegotiate or to revoke the credits.
As a result of such communication the value of the quoted title to Wall Street, than little more than a month makes exceeded the five dollars abundantly, is come down from the 3,09 dollars of the closing of monday to the 1,62 dollars yesterday.
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The admission by the shipowning company American Horizon Lines not to be able to respect the next agreed terms of payment with own backers has made to collapse the title of the company on the securities market. Past monday Horizon Lines, introducing budget 2010, had shown the possibility to appeal to the administration controlled previewed from the American bankrupt law if the creditors ask the full respect for the contractual clauses that would allow to renegotiate or to revoke the credits.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
