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A new legal landscape as Rule B chill sets in
Shipowners have abandoned claims to recover money from defaulting counterparties after a landmark ruling in New York, writes Michelle Wiese Bockmann
Michelle Wiese Bockmann - Friday 5 February 2010
AN ESTIMATED 400 shipowners, operators and charterers worldwide are entangled in what New York lawyers are calling one of the largest legal maritime upheavals in recent history.
As January closed, nearly all lost their fight to stop the release of tens of millions of dollars frozen by a New York federal court using Rule B maritime attachments.
Th...
