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US Court rules against Lauritzen in USD 20 million petition

A New York court of appeals rejected a Lauritzen Bulkers claim regarding access to USD 20 million in a dispute concerning charter receivables. This is confirmed by J. Lauritzen.

Photo: Rederiforeningen

A New York court of appeals rejected a claim from Lauritzen Bulkers to seize and release USD 20 million from HSBC, which the Danish carrier claims to be owed in a dispute concerning charter receivables involving company JTT International. Jens Søndergaard, senior vice president, Corporate Communications at J. Lauritzen, confirms this, though he declines to comment further on the ongoing case.

Tradewinds describes the ruling of the court, which authenticates a previous ruling, as a defeat for J. Lauritzen and other owners attempting to reclaim receivables in international disputes in global shipping through the courts, hoping to seize cash accounts.

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