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 centered 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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0850 sec (12 req/sec)