SINGAPORE (Oct 20): Singapore-listed Rickmers Maritime, a trust that operates container ships, said on Thursday it received a letter from a law firm informing it that some holders of a $100 million bond want to take legal steps to enforce early repayment.

Rickmers has been seeking holders' support to restructure the bond, maturing in 2017, in a bid to avoid potential liquidation amid a shipping downturn. The trust has seen its market value tumble more than 70% so far this year to about US$20 million ($27.8 million).

Rickmers said it's "in the process of validating the contents of the letter", received on Wednesday from legal firm Rajah & Tann.

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