Shippers Bailed On $9M Loan Repayment, Greek Lender Says

Law360, London (January 28, 2019, 2:01 PM GMT) -- The owners of an oil and chemical tanker have failed to pay back $9 million in loans, interest and emergency payments and also failed to disclose that their heavily-mortgaged vessel was leaking, a Greek lender has told a London court.

Aegean Baltic Bank SA said the two companies, Renzlor Shipping Ltd. and Oceanwide Shipping Ltd., had failed to repay the millions despite entering into a series of loan and mortgage contracts and other lending deals over the course of a decade, according to a particulars of claim filed at the High Court and signed Jan. 17.

When Renzlor allegedly shirked on...

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