New York-based Hanover has taken a provisional 1,375,000 shares in the bulker owner after it won a $305,455 dispute in the Supreme Court, SEC filings show.
According to the terms handed down by the judge, Hanover has been given an initial 8.37% slice of the shipowner.
Further shares up to a 9.99% stake may be heading its way depending on stock price movements in the coming days.
