Settlement reached in Stocznia/Latreefers dispute

Wednesday, October 09, 2002
TERMS of settlement have been reached in the protracted legal dispute between Polish shipyard Stocznia Gdanska, Latreefers and the Latvian Shipping Company ("Latco"). The settlement, the terms of which remain confidential, brings to an end a long-running legal battle which has been fought out in the English and French courts over a period of years. The Latvian interests were represented throughout by Lawrence Graham. Ince & Co represented the Polish yard. The dispute centred on the shipyard's claimed entitlement to damages arising from the failure of Latreefers, a wholly owned subsidiary of the Latvian Shipping Company, to meet contractual payments under a $170 million, six reefership order placed with the Gdansk yard in 1992 and subsequently cancelled. Stocznia Gdanska arrested in France several vessels belonging to Latco or subsidiary companies in an attempt to enforce its claims against Latvian Shipping Company. Most arrests were subsequently lifted but the remaining two vessels still under arrest as a consequence of the dispute, the "RAZNA" and the "TAGANROGA", have now been released.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

APL’s Schedule Reliability Scales Up

APL was the most reliable carrier with a global on-time performance of 85.5% in May 2015, according to the latest Global Liner Performance Report by SeaIntel Maritime Analysis.

Gazprom, Gasunie Sign Framework Agreement - LNG

At a Meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Han Fennema, CEO and Chairman of the Executive Board of Gasunie a Framework

Haiti’s Port Lafito Officially Opens

GB Group inaugurated their Port Lafito, a world-class modern container port in Haiti. They informed that the port is now open and operational. Port Lafito

Finance

De Nora Acquires Severn Trent's Water Purification Business

De Nora announces the completion of the acquisition of the Water Purification group of Severn Trent Services. The new business line, called De Nora Water Technologies,

Bunker Holding Buys LQM

Bunker Holding Group (Bunker Holding), a global leader in the purchase, sale and supply of marine fuel with 54 offices in 27 countries, announced today the acquisition

Buoys in Disputed Waters Roil South China Sea Dispute

Buoys stretched "as far as eye could see" - Philippine sailor. The Philippine navy recently found a large steel marker bearing Chinese inscriptions and hundreds

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics 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: 0.2105 sec (5 req/sec)