Shipping lenders DVB Bank and Nord/LB have won a claim against shipowner Nikolaos Livanos to recover almost $12m in outstanding debt.
The case concerns a loan provided by DVB and Bremer Landesbank, which was later taken over by Nord/LB, to vessel-owning companies Vega Marine and Fortuneship, which are beneficially owned by Livanos.
The dispute arose after the borrowers failed to make a $187,500 repayment under a supplementary agreement, which was signed after the shipping companies defaulted...
