Joseph Bonney, Senior Editor | Mar 12, 2012 3:39PM EDT
A U.K. court has extended an order freezing assets of Russia’s largest fruit importer, JFC Group, to enforce a judgment over the company’s violation of its charter agreements with vessel operator Star Reefers.
An Admiralty and Commercial Court judge said there were grounds to argue that JFC and seven directors and officers had willfully disobeyed a previous order freezing the company’s assets.
The judge, C. Edelman, granted permission for contempt proceedings to be served on the JFC directors and officers. A hearing has been set for May 23.
The court orders followed a ruling last August that JFC must pay $16.5 million, plus legal costs and interest, for the unlawful early delivery of three ships and wrongful termination of charters with Star.
After JFC had failed to appeal or pay the judgment, the company was ordered to disclose details of all its worldwide assets valued at $25,000 or more, and any transactions with its associated companies. The court later ordered $21 million worth of JFC assets frozen to satisfy the judgment.
Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.
