Trial Over Bank's $96M Claim Sets Sail Without Shippers

Law360, London (February 16, 2021, 3:19 PM GMT) -- A Greek bank's claims over an unpaid $96 million debt headed to trial on Tuesday without the alleged debtors, two shipping companies and their owner, who sent a note to the court saying his absence was "not of disrespect."

Judge Neil Calver said the High Court trial could go forward after a lawyer for Piraeus Financial Holdings SA, formerly Piraeus Bank SA, told the court that the two shipping companies are "effectively defunct" and their owner, Michail Zolotas, has not engaged with the litigation.

"You've provided Mr. Zolotas with the trial bundles and your skeleton argument. He knows that the hearing...

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