Settlement of demurrage claim for MARTYN LATSIS vessel
Turkish shipowner has delivered a vessel into a sub-time charter to a Russian company on a term of postponed payment. Freight has not been paid up until the end of charter. Cargo was on board. We had to ensure payment of freight.
Our services in the case
Legal evaluation of payment documents presented by the charterer has been performed. As a result it has been established that payment has been withheld by the bank due to security reasons. Settlement agreement has been drafted, based on which freight payment and penalties for delay in payment were to be paid on other bank account of the shipowner.