Scrap Seller Cuts Asset Freeze In $45M Ship Loan Suit
Law360, London (December 18, 2020, 5:36 PM GMT) -- A judge maintained a worldwide freezing order on Friday against the son of a Dubai shipping magnate who was successfully sued over loan agreements, but cut the value of the injunction by $8 million.
Judge David Edwards QC said "it would plainly be inappropriate to discharge" the order preventing Muhammad Ali Lakhani from releasing any of his assets. There is a real risk that money available might otherwise be dissipated, he said.
Nordic Trustee, investment manager Njord Partners SMA-SEAL LP and two other private equity lenders secured an order preventing Lakhani from disposing of $30 million who is one of three defendants in a...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!