HSBC Succeeds In $9M Suit Tied To Greek Ship Sale

Law360, London (February 8, 2019, 8:00 PM GMT) -- HSBC won its claim Friday for $9 million over an unpaid loan against a Greek shipowner after a London judge rejected the argument that the bank should have waited until the moribund shipping market recovered to sell his vessels at a higher price. 

Judge Ross Cranston concluded that HSBC Bank PLC was entitled to judgment against Dimitrios Kritsas, the director of the a Greek shipping company who provided a personal guarantee under Greek law for the liability of the two loans at the heart of the suit. Kritsas had said at trial that HSBC breached Greek law when it rejected three...

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