TRANSROLL DENIES HAVING FINANCIAL DIFFICULTIES
Transroll Navegacao, the Brazilian shipping line, denied that it is having
financial difficulties repaying loans and that it should look for a buyer or risk
bankruptcy proceedings.
The carrier said that press reports mis-reported a dispute between
Transroll and the Brazilian National Development Bank.
The dispute is not about commercial loans, but concerns legal proceedings
in Brazilian courts pertaining to "the basis of calculating the monetary
correction" of shipbuilding loans, Transroll said.
"Transroll is no different from other Brazilian lines in debating
just how much is owed as a result of past adjustments for inflation," a spokesman for
Transroll said.