LISCR and LSC condemn IRI legal action

Tuesday, May 15, 2001
Yoram Cohen, CEO of the Liberia International Ship & Corporate Registry, has described as "completely unfounded, unsubstantiated and untrue" allegations made by International Registries Inc. on May 11, 2000, pursuant to the filing of a lawsuit against LISCR in the Supreme Court of New York. "The allegations," says Cohen, "will trigger a massive counter-suit by LISCR against IRI. "LISCR is a private company operated and fully owned from the United States by U.S. nationals, completely independent of the Liberian government," says Cohen. "It complies fully with all aspects of U.S. regulatory law. Since assuming control of the Liberian Registry on January 1, 2000, LISCR has made significant gains in both its ship registration and corporate registration activities. Its ship registration business is currently growing at an equivalent rate of four million gross tons a year - a sure sign that it is providing shipowners with the service they require. "I can only conclude that IRI's filing of this lawsuit is a desperate and miserable attempt to cause damage to the Liberian Registry, which IRI lost because of a clear conflict of interest by managing another small, fledgling registry. LISCR's capacity to provide superior service to its clients, and to the maritime industry, will not be affected in any way by this series of events." Meanwhile, Richard Deely, General Secretary of the Liberian Shipowner's Council (LSC), has issued a statement in response to the announcement of the filing of the IRI lawsuit, confirming, "The LSC regrets that IRI has taken such a confrontational approach with LISCR on what should be a straightforward contractual matter. "Our organization worked closely with everyone involved during the last two years to ensure a seamless transition to LISCR's management, so that shipowners' interests were protected. LISCR's administration and management of Liberia's ship and corporate registries has been rated as excellent by the owners we represent. Early on, LISCR satisfied the LSC that its funding and organization was consistent with the long-term interests of shipowners in the Liberian Register. This legal action is not in the best interests of shipowners, and LSC calls on both parties to resolve their differences quickly and amicably."
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

Halliburton to Settle US Gulf Spill Claims for $1.1b

Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010.

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1786 sec (6 req/sec)