The owner of a $124m loan allegedly backing Active Shipping has joined NYK Line in its chase of the Turkish shipowner.
Nassau Maritime Holdings Designated Activity Company filed a claim in the US federal court for the Middle District of Louisiana on Tuesday.
It intervened in an earlier lawsuit by NYK Line, the Japanese shipping giant, in the same court on Monday, seeking to arrest the 115,406-dwt tanker Riverside (built 2009) to cover the nine-figure claim.
Like NYK Line, Nassau Maritime makes corporate alter ego allegations of Active Shipping.
The company alleged in legal papers that Turkish shipowner Active Shipping, affiliate shipmanager Active Denizcilik Ve Gemi Isletmeciligi and three present and former registered owners of the tanker Riverside are corporate alter egos of each other.
And Nassau Maritime alleged they are also alter egos of the seven shipowning entities that HSH Nordbank loaned $418m to in 2008. Nassau Maritime acquired the loans last June.
The outfit said the seven companies — six of which could be tied to ships in Active Shipping's online fleet list via databases — defaulted last March and that notices had been sent six times since then with no payments made.
Allegations of default
As TradeWinds has reported, NYK Line's lawsuit was filed on 8 September and sought $3.25m, alleging Active Shipping knew the mortgage for the 169,234-dwt bulker Cape Providence (built 2010) had fallen into default and was under risk of arrest.
The Tokyo-listed company alleged that the Cape Providence's registered owner, the Riverside owners and the Active companies are all dominated by Active Shipping chairman Mehmet Ali Umar.
Glory Riverside Navigation, the Riverside's current registered owner, deposited $3.25m in security in the court in a bid to secure the vessel's release from arrest.
When Nassau Maritime acquired the HSH Nordbank loans, it was known as Promontoria Maritime Holdings. Companies with the Promontoria moniker are often connected to Cerberus Capital Management through its Dutch subsidiary, though the New York investment firm is not mentioned in court documents.
The name change to Nassau Maritime took effect in January. The company is based in Dublin.
The Riverside's ownership interests did not return a request for comment.
Second lawsuit
Nassau Maritime's legal action against the Riverside follows one filed under seal in March in the US federal court for the Middle District of Louisiana.
Then, it secured the seizure of the 115,395-dwt Pacific Sky (built 2009) in an attempt to satisfy its claim.
That tanker's registered owner, Pacific Sky Navigation, was one of the seven companies on HSH Nordbank's loan.
The case was unsealed in April, and in May Nassau Maritime moved to force a sale of the vessel.
Judge Kathleen Kay denied the motion. That came after Pacific Sky Navigation argued the ship was crewed, being maintained and that the $75,000 per month to $85,000 per month expenses were not excessive given the ship's $20m to $24m estimated value.
In its response to Nassau Maritime's complaint, Pacific Sky Navigation argued there was no valid claim and that the loan is governed by German law, which does not give Nassau Maritime a right to enforce the loan.
The last filing in that case was made on 4 September, when Kay allowed the ship to move in order to refuel and restock its supplies.
