Texas appellate court rules in TMT’s favor

SEPTEMBER 18, 2013 — Nobu Su’s Taiwan headquartered TMT said today that an appellate court in Houston, Texas, has rejected an attempt by Taiwanese banks to revisit the bankruptcy court’s ruling that TMT filed its chapter 11 cases in good faith.

“It is sad that some banks in Taiwan are still obsessed with shutting down TMT rather than working with the company to see how its ships can be got back as profitable trading entities on the high seas,” said a TMT spokesman. “The Royal Bank of Scotland has indicated willingness to discuss its dispute with TMT dating from the 2008 global era of market and price manipulation. RBS’s new leadership want to turn the page. It would be helpful if Taiwanese banks that appear to want to see TMT closed down paused for a while and sought constructive agreement with TMT to find win-win solutions so that TMT can keep trading and its creditors are assured of cash flow.”