Replies to post #20888 on Box Ships Inc (TEUFF)

[Toxic Avenger]

There's no indication of what it was sold for. It was on the books for $47 million, but that's inflated. They owed $16 million. I'm thinking less than $16 million, but not much less. There are fees in the filing for monies owed to crew, etc. but the bottom line is the entire sale amount goes to the bank. There is no cash left over. That's specified in the deal.
The details are on the SEC Edgar database if you want to check.

[Toxic Avenger]

There's no indication of what it was sold for. It was on the books for $47 million, but that's inflated. They owed $16 million. I'm thinking less than $16 million, but not much less. There are fees in the filing for monies owed to crew, etc. but the bottom line is the entire sale amount goes to the bank. There is no cash left over. That's specified in the deal.
The details are on the SEC Edgar database if you want to check.