Remedial (Cayman) to distribute $1.65 million to 10% bondholders

By Caroline Salls

Pittsburgh, June 2 – Remedial (Cayman) Ltd. 10% callable bond issue 2010/2012 bond trustee Nordic Trustee ASA said a $1.65 million distribution will be made to holders of bond and interest claims two business days after the June 3 record date, according to a notice released Tuesday.

The trustee said the distribution represents 5.68994% of the total $29 million of bond and interest claims outstanding.

According to the notice, Remedial’s liquidation is near completion. The trustee said an additional payment of up to $125,000 is possible following completion of the liquidation.

Remedial is a Grand Cayman-based elevating support vessel builder.

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