9th Circ. Nixes Successor Liability Claim In Charter Fight

Law360 (March 31, 2021, 9:21 PM EDT) -- The Ninth Circuit has refused to allow a shipping company to enforce an arbitral award over a charter agreement against the alleged successor of the shipowner, concluding there was no evidence that any "substantial" transfer of assets between the defendant companies had occurred.

Pacific Gulf Shipping Co. is looking to enforce an arbitral award it won following a dispute that arose after the M/V Adamastos, a cargo ship it had chartered, ran aground and was abandoned. The arbitral award for unquantified future damages was against the owner of the ship, Adamastos Shipping & Trading SA.

Brothers George and Efstathios Gourdomichalis were...

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