A U.K. court says Russia’s largest fruit importer JFC Group must disclose all its worldwide assets after the company failed to pay $16.5 million in damages to Norwegian shipowner Star Reefers.
In August the High Court in London awarded the refrigerated cargo ship operator damages and costs against charter party guarantor JFC, following the unlawful early redelivery of three ships and wrongful termination of charters by JFC’s chartering arm Kalistad.
After JFC failed to pay the damages or appeal the judgment was considered “final.”
With JFC’s ongoing failure to pay, a Commercial Court judge last week ordered the St. Petersburg-based company to disclose to Star Reefers all worldwide assets exceeding $25,000. It must also disclose any transactions between JFC and its associated companies in the last year in excess of $25,000.
Source: www.joc.com