Court sides with Western Bulk in million-dollar case

Subsidiaries to Norwegian Western Bulk could have cost the parent company a lot of money, but the district court in Oslo has now ruled in favor of the dry bulk carrier.

Norwegian dry bulk player Western Bulk, listed on the Oslo Stock Exchange, has spent years waiting through a legal battle in which subsidiaries had been sued for USD 12.3 million plus USD 857,000 in legal fees. And the carrier can now breathe a sigh of relief.

According to a statement from the carrier, the district court in Oslo has sided with Western Bulk in all aspects of a dispute concerning Forward Freight Agreements stemming from back in 2006 - a case that led to the arrest of a 19,500 dwt dry bulk vessel.

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