Eletson’s battle with fund that became foe is cautionary tale for our times
It has become common for shipowners to explore alliances with investment funds in place of traditional bank finance, but things can get risky if a war between one of the industry’s blue-chip operators and a vulture fund determined to take it over is any indication
For an investment of around $5m, an opportunist Canadian hedge fund has laid siege to a fleet worth hundreds of millions