A massive judgment worth more than $265m has been made against companies associated with Lebanese shipowner, Ghassan Ghandour, although it is unclear how recoverable the award will turn out to be.
The ruling arises from a failure to pay agreed rates on a series of eight VLCC time charters signed between 2004 and 2007 with KG (limited partnership) funds managed by the Dortmund-based Dr Peters asset finance group.
