Metropolitan Capital Advisors has dropped its lawsuit against Navios Maritime Holdings after the New York-listed owner announced it was terminating a controversial $50m loan deal.
The termination of the loan comes two weeks after the New York-based investment firm and its counsel Bernstein Litowitz Berger & Grossman commenced a shareholder derivative lawsuit to block the deal, which had sought to bolster the finances of the Angeliki Frangou's bulker owner with a loan from its healthier tanker spinoff, Navios Maritime Acquisition.
The
