A unique dual-broker approach to a UK admiralty court drillship auction has been agreed by Deutsche Bank (DB) after it tried to bring in its own shop for the sale.
A court ruling has revealed that DB wanted to cut out traditional admiralty broker CW Kellock, which has been carrying out such sales for more than 150 years.
DB, as the vessel mortgage holder, had argued that its choice, Pareto Offshore, had the relevant experience in such a specialised sale and purchase market.
