The ongoing legal battles over settlement of freight futures deals has seen TMT Asia back in court pressing a $52.7m claim against Luxembourg based Marine Trade SA.

Nobu Su controlled TMT however failed in a bid to win summary judgment after facing a bare knuckle counterattack from Marine Trade over its financial standing.

The venue for the FFA bouts.
Between October 2007 and April 2008 TMT Asia entered into a number of forward freight agreements (FFAs) with Marine Trade, a period that saw a dramatic fall in freight rates.

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