OW Bunker Archives - Fichte & Co Legal

Double Jeopardy?

Fichte Legal — Mon, 23 May 2016 07:30:36 +0000

UK Supreme Court judgment on OW Bunker, The Judgment in Brief: The long awaited Judgment by the UK Supreme Court (“UKSC”) was handed down on 11th May 2016 in which they unanimously dismissed the appeal by PST Energy 7 Shipping LLC and Product Shipping and Trading S.A., the owners and managers of the Vessel Res …

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Shipowners May Have To Pay Twice!

Moaz Forawi — Thu, 19 May 2016 06:44:43 +0000

Although the outcomes of arrest proceedings are becoming more predictable to the reassurance of physical bunker suppliers, it appears that shipowners will continue to be at risk of having to pay OW Bunker or its assignees under London arbitration proceedings as well as the physical suppliers if their vessels are arrested in Dubai. Following the …

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OW BUNKER – The Saga Continues?

Fichte Legal — Mon, 15 Feb 2016 06:39:19 +0000

After OW Bunker’s insolvency, Owners were faced with the risk of having to pay twice for the same bunkers – once to OW Bunkers / ING who had a contractual claim, and once to physical suppliers who arrested the supplied ships on the basis of statutory rights. In many jurisdictions, courts were tasked to decide …

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OW Bunker fallout

Fichte Legal — Sun, 13 Dec 2015 00:09:06 +0000

Khorfakkan Federal Appeal Court’s ruling supports local bunker suppliers’ position and rejects ING’s claims: By way of background, subsequent to the liquidation of OW Bunker Middle East DMCC (“OWBME”), Shipowners found themselves in the unenviable position that they were subject to double demand for payment by way of demands from both physical suppliers (“PS”) and …

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OW Bunker: The SAGA Continues

Fichte Legal — Thu, 02 Apr 2015 10:44:46 +0000

Many of you have been inquiring about the status of the O W Bunker DMCC (“OWB”) liquidation and we are now in a position to provide you with a significant update. It is anticipated that a Co-operation Agreement (“CA”) will be signed between OW Bunkers and ING bank shortly in an attempt to start cash …

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OW Bunker Aggressively Pursuing Ship Arrests

Fichte Legal — Fri, 02 Jan 2015 21:29:53 +0000

In the midst of the on-going OW Bunker (OWB) debacle, here are some key points when considering your options, particularly in the UAE. Pre-emptive action through the courts around the world by ship owners It has become apparent that OW Bunker USA and North America have been aggressively pursuing ship arrests in order to recover …

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