DVB Bank Pursues Shipowner Over $24M Overdue Loan

Law360, London (September 23, 2019, 3:50 PM BST) -- The Singapore branch of German lender DVB Bank has launched a suit in the U.K. against the owners of a ship being held in northern England, seeking repayment of $23.9 million in unpaid loans.

DVB Bank SE Singapore Branch, which specializes in international transport finance, is suing the owner of the vessel MV Glovis Countess for the outstanding money and for a court declaration that it can enforce its security on the ship itself, according to documents filed with the High Court.

The bank and the shipowner entered into a secured facility agreement in December 2015, according to the claim. Just...

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