Credit bidding is the process whereby a lender, with a secured charge over a borrower’s asset, bids on that asset using the very debt that is owed by the borrower to the lender. The circumstances are usually foreclosure of a lending position against a borrower. In the maritime sector, this process often takes place in …
The post To bid or not to bid: Credit bidding in vessel sales pendente lite first appeared on Hellenic Shipping News Worldwide.