The English and Isle of Man courts granted injunctions against Navigator Gas Management (NGM) and Vela Energy Holdings Ltd in a dispute over the proposed long-term chartering of five gas tankers in the Navigator Gas Transport (NGT) fleet managed by NGM. The English injunction forbids NGM from taking any action which amounts to a denial of the existence of the Montanari charters and from suggesting to any third parties that the charters are ineffective. This follows claims made by NGM in the trade press and in brokers' reports that the Montanari charters, concluded on November 30 last year, are invalid. Group. Vela claims to have bought 51 per cent of the shares in Arctic…
