International Registries Inc (IRI) claims it is owed between $10m and $15m according to the deal to hand over management of the Liberian registry from 2000.
IRI's claims are denied by Liberian International Ship & Corporate Registry (LISCR), the current administrator of the flag. IRI manages the much smaller Marshall Islands flag.
Most shipping companies would prefer both to get on with the business of regulation rather than resurrecting the bitter legal battle that ended IRI's 50-year franchise to operate the Liberian register.
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