Judge Prohibits Liquidators from Sea Malta Selling Ships

Thursday, March 16, 2006
Liquidators who had been appointed to dispose of Sea Malta's assets have been prohibited from selling two vessels after an application filed in the First Hall of the Civil Court by a group of 42 former employees of the company, who claimed that their employment had been terminated, was upheld by the Court, according to a report on www.di-ve.com. The former employees claimed that their employment with the company had been terminated, and that the company was in liquidation with liquidators being appointed to dispose of its assets. However, all of the 42 former employees, were still owed money from the company for their salaries and other benefits including termination benefits. The men requested the court to prohibit the company from selling the vessels or any part of them, while also prohibiting the company from registering any mortgages or hypothecs on the vessels. (Source: www.di-ve.com)
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