Shipper Told To Pay Natwest $13.3M After Mortgage Row
Law360, London (May 15, 2019, 11:34 AM BST) -- A judge in London has ordered a Greek shipping company to pay the investment banking branch of Royal Bank of Scotland Group more than $13.3 million after ruling for the lender in a mortgage dispute earlier this month, according to court documents.
High Court Judge Robin Knowles said NatWest Markets PLC acted correctly when it demanded the unpaid loan balance from Stallion Eight Shipping Co. in June, when the shipper failed to come up with an additional security to cover a shortfall in the value of a mortgaged cargo vessel.
The sum includes $12.8 million in principle plus $570,000 in interest and other expenses the lender...
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