Bank's $86M Case Against No-Show Shippers Heads To Trial

Law360, London (June 26, 2020, 2:58 PM BST) -- A Greek bank will take its pursuit of two shipping companies and their owner over an unpaid $86 million debt to trial, even though the defendants have not responded to the proceedings, a judge at a London court confirmed on Friday.

Judge Andrew Baker started the case management conference at the High Court by noting the absence of Michail Zolotas, a Greek national involved in the shipping business and the major beneficial shareholder in Grand Anemi, a shipper that is co-defendant.

Piraeus Bank told the court that it would be possible to enter a default judgment. But it wants to take the...

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