Large indebtedness + Claims handling = satisfied Client

ODESSA SHIPPING PARTY is not only a brilliant party for professionals in the shipping industry but also is a venue for new meetings and networking, as confirmed by our recent case.

Last party, the Client – one of the largest Black Sea companies engaged in vessel supply & service and rendering services both at the Ukrainian and at the foreign seaports – applied to Interlegal.

Due to Interlegal perfect teamwork, the Client could settle all the proprietary issues with two debtors in a pretrial manner. Let us describe in a nutshell each case study.

Case No. 1. The Client repaired special vessel equipment and supplied its details in the interests of the Turkish Shipowner. The Parties, as usual, agreed on payment deferral but the Shipowner, unfortunately, failed to comply with the agreement. The dispute was complicated by the fact that the Shipowner wound up a legal entity, incorporated a new one, and reregistered its fleet in the latter’s name. Despite the alleged absence of direct grounds for filing a claim against the beneficiary and/or new legal entity, Interlegal lawyers could find solid grounds for filing a claim, based on international law. The Debtor was engaged in the processes of signing the Settlement Agreement, Claims Handling, and arranging new payment terms. So, the Debtor could pay indebtedness in full within two months. Interlegal Ukrainian and Turkish offices participated in negotiations, while associate attorney Dmitri Ochkolias and lawyer Mykola Kozachenko led the case.

Case No. 2. The Client repaired special vessel equipment and supplied its details in the interests of the Ukrainian Shipowner. Like in the first case, the Parties agreed on payment deferral. The Client agreed to postpone payment terms, but the Shipowner sold the vessel, while the new Shipowner sub-chartered her to a third party. Due to such a complicated scheme, the Client did not believe in success concerning debt recovery. Interlegal lawyers negotiated each company formerly/currently related to the above fleet, followed by filing claims to all the Parties regarding the risks of anticipated vessel management, without indication of the guilty party. So, the Debtor could pay indebtedness in full within three months, having saved freight payments in favor of the previous Shipowner. Interlegal associate attorney Dmitri Ochkolias and lawyer Karina Shakhbazian led the case.

This is the moral of both stories: if you think the debt is hopeless, we are ready to prove otherwise.

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