Krillsea Group bankruptcy discontinued; no more bond payments coming

By Caroline Salls

Pittsburgh, Dec. 6 - Krillsea Group AS bond trustee Norsk Tillitsmann ASA said the company's bankruptcy proceedings have been discontinued.

According to a report to holders of Krill Seaproducts AS' callable senior secured bond issue 2007/2012, senior secured PIK bond issue 2009/2012 and 15% senior secured bond issue 2010/2011, all residual claims against the company may be written down to zero, and no further payments will be made to bondholders.

Krillsea Group, formerly Krill Seaproducts, operates a krill fishery in the Antarctic Ocean and makes food and feeds using krill. It is based in Fosnavag, Norway.

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