Wilbur Ross and fellow billionaire Paul Singer are trading blows over whether Ross is paying enough for a controlling stake in the shipowner.
Controversy has arisen after Singer’s Elliott Management Corp, a creditor of Lehman, appealed that Ross was taking a majority holding in Navigator without having to pay a premium.
Elliott is asking trustee James Giddens for the sale to be cancelled, suggesting Ross was taking on the shares without a proper bidding process, Bloomberg reports.
“WLR
