We acted for the ship managers of 2 LNG carriers. The Plaintiffs were the mortgagee bank whereas the 1st Defendant was the borrower who defaulted on the vessels’ mortgage with an outstanding sum of US$34 million. The Plaintiffs sought to obtain a permanent injunction in the High Court of Singapore against our clients to, inter alia, compel them to hand over the management of the 2 vessels and provide information relating to the vessels. We acted for our clients in opposing the application on the grounds that the Plaintiffs were in wrongful interference, do not have a valid cause of action and that the undertaking for damages provided by the Plaintiffs ought therefore be enforced to compensate our clients for their losses. We obtained a favourable settlement for our clients.
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