Security Agent Gets Early Win In $45M Ship Loan Dispute

Law360, London (July 22, 2020, 7:57 PM BST) -- A Norwegian security agent for a $45 million loan that was personally guaranteed by a Dubai shipping broker has scored an early win in its suit against the businessman and his son.

Oslo-based Nordic Trustee AS, which provides security agent services for lending agreements, was granted summary judgment in the High Court against shipping broker Muhammad Tahir Lakhani, according to a newly released order from Judge David Foxton.

Nordic Trustee was a co-claimant in litigation brought by investment manager Njord Partners SMA-SEAL LP and two other private equity lenders over the loan, made to a company called Astir Maritime Ltd, which...

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