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 Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Georgia Delegation visit Naval Academy "NYVaptsarov"

From 15 to 17oktomvri 2014. Naval Academy "N. Vaptzarov "hosted a delegation from Georgia led by prof. Sharabidze Irakli - Rector of the State Maritime Academy, city.

Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá.

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1890 sec (5 req/sec)