Private Russian shipowner Yuri Nikitin is due $59.8m plus interest from Sovcomflot as compensation for lost earnings.
The Russian state shipping company froze $377m of Nikitin’s cash ahead of a massive fraud trial in London that finished in 2010.
Nikitin was claiming $378.8m of damages, saying he would have used the money to order tankers at Korean yards, and then sell them on for a profit.
Commercial
