Singapore: Priorities between maritime claimants - Singapore High Court denies leapfrogging of claims
Feb 13, 2018
![Singapore: Priorities between maritime claimants - Singapore High Court denies leapfrogging of claims](/assets/image-cache/uploads/jtjb-brand-identity-logo-in-red-abbreviated-version%20%28002%29.2f4da270.png)
Piraeus Bank, one of the largest banks in Greece, commenced two mortgagee actions in Singapore and effected a double arrest on the vessels “Posidon” and “Pegasus”, flowing from the ship-owners’ default of a loan agreement. The vessels were subsequently sold pursuant to a judicial sale.
Subsequently, World Fuel Services, who had (via various companies) supplied bunkers to the vessels on credit, intervened in both actions.
Read the full article here.