Nordea Bank AB (NDA)’s Singapore unit seized two vessels from Korea Line Corp. (005880)’s local subsidiary in a bid to recoup $64.9 million in debt.Nordea Bank arrested the Blue Diamond ship yesterday and the Blue Coral earlier this month, the bank’s lawyer Corina Song of Allen & Gledhill LLP, said by phone today. The ships were pledged as collateral for an $82 million loan in October 2006, the bank said in a March 17 lawsuit with the Singapore High Court.
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Source: Bloomberg
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