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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Former Petrobras Exec Sentenced to 5 Years Jail

A Brazilian judge sentenced a former international director at state-run oil firm Petroleo Brasileiro SA to five years in prison for money laundering on Tuesday,

China Breaks Ground on South China Sea Lighthouse Project

China hosted a groundbreaking ceremony for the building of two lighthouses in the disputed South China Sea, state media said on Tuesday, a move that is likely to

Taiwan Offers South China Sea Peace Plan

Taiwan proposed a peace initiative on Tuesday to resolve territorial disputes in the South China Sea that it says will reduce tensions that have put Beijing at

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1256 sec (8 req/sec)