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Shippers pay into US court to prevent ship detention after OW Bunker collapse

January 14, 2015

Reuters
By Keith Wallis

Shipping firms have paid millions of dollars into U.S. accounts to prevent their vessels from being detained due to non-payment of bills for fuel supplied the bankrupt OW Bunker, indicating the impact from the collapse of the Danish firm was spreading.

OW Bunker filed for bankruptcy in November after losing almost $300 million in alleged fraudulent trading in Singapore, leading to claims distributors who sold shipping fuel on behalf of OW Bunker but had not been paid.

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Robert O’Connor of law firm Montgomery McCracken Walker & Rhoads, which acts for OW Bunker USA and OW Bunker North America and took action against Cosco Piraeus, said: “The ship is no longer under threat of arrest.”

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