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CFG Bankruptcy Sale Notice Filed

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China Fishery Group’s Chapter 11 trustee filed with the U.S. Bankruptcy Court a notice of sale of a non-debtor vessel, in accordance with the non-debtor asset sale order.

The notice states, “Pursuant to the Non-Debtor Asset Sale Order, the Trustee proposes to enter into the transaction (the ‘Proposed Transaction’), which involves the private sale or transfer of the ‘Liafjord,’ a non-debtor vessel to a single buyer or group of related buyers, with a purchase consideration of $4,000,000. The Trustee intends to sell the ‘Liafjord,’ a fishing vessel currently anchored in the port of Chimbote, Peru, to Stock Company (AO) ‘YUZHMORRYBFLOT,’ (the Buyer) a Russian company with company number 1112508007765 of the Joint Public Registry of Legal Entities of the Russian Federation. CFG Peru Singapore subsidiary involved is Sustainable Fishing Resources S.A.C. Deposit is an amount equal to ten percent (10%) of the Purchase Price.”

Read more CFG bankruptcy news.