Subscribe to RSS feedGem of Madras arbitration finds settlement
by
Rajesh Joshi, New York
—
last modified
Jul 23, 2009 04:37 PM
THE bulk carrier Gem of Madras, held since last month in the US, was set to be released last week after one of the underlying cases was settled via arbitration in London.
Nordea Bank added a twist to the case by filing papers in Louisiana against defendant West Asia Maritime of India (WAM), claiming an outstanding balance of US$31.5m on a US$45m loan connected with the 2008-built, 56,548 dwt ship.
Nordea...
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