Embiricos affiliate Crete Maritime Corp has failed to persuade a Hong Kong judge that former customer Emirates Shipping Line is "an entity of unacceptably low commercial morality".
Judge Anthony Chan has overturned an earlier order in favour of the shipowner to freeze $454,000 in Emirates' funds over the cancelled charter of the 6,450-teu containership Crete I (ex-Ilse Wulff, built 2009).
