April 12 (Reuters) - Rickmers Maritime:
* Trustee-manager (Rickmers Trust Management Pte. Ltd) has been unable to reach an alternative agreement with its lenders to restructure Trust's (Rickmers Maritime) debts
* Inability to reach agreement led to failure to make US$196.7 million principal repayment to HSH syndicate due on 31 March 2017
* HSH had granted trustee-manager until 15 April to present new restructuring proposal to ensure higher level of total recoveries
* Potential investors have not supported injection of new equity into trust due to challenges in obtaining consent for debt write-offs
* "Failure to make repayments have cast material uncertainties on Trust's ability to continue as a going concern"
* "Trustee-Manager opines that it is impracticable to continue trust and that it shall therefore be wound up"
* Expected that business operations of Trust's vessels will remain unaffected by this process of winding up of the Trust
* Will also be submitting application to Singapore Exchange Securities for delisting of Trust and notes from official list
* "Unitholders are highly unlikely to recover any of their investments" Source text for Eikon: Further company coverage: