Global Marketing Systems (GMS), which claims to be the largest cash buyer in the world, is under fire in Baltimore after failing to cough up cash to cover an award issued late last year, according to documents filed in the US District Court for the District of Maryland.
The initial dispute is linked to the 17,850-dwt multipurpose cargoship Atlantic Leader (built 1985) and a disagreement over vessel valuations that unfolded after the petitioner sold the unit to GMS affiliate Providence Shipping for recycling in September 2011.
The
