Claims are stacking up against a bulker whose journey to the breakers has been marred by legal disputes, setting up a battle over sales proceeds that are likely to come in far below the amount sought by the multiple plaintiffs.
Since the High Court of Gujarat ordered the 34,800-dwt Infinity (built 1985) to be sold in early April, the Liberian Registry and Turkish manager Makro Denizcilik have lodged claims against the ship, legal records show.
According to court documents and sources, total claims have reached more than $5m, although the ship may only be worth a fraction of that.
And a Makro spokesperson tells TradeWinds that it may take other legal actions related to the arrest.
"The main reason for the vessel’s disability to be delivered to the breakers at the time, which led to the wrongful detention of the vessel by her mortgagees, have been completely dismissed by Indian courts and found wrongful, where our principals reserve their right to counter-claim to recover their losses incurred," said Makro's G Sesen.
The Infinity, which is owned by Erol Yucel's Glamour Maritime, has been stuck off western India since September after a sale to UK-based NKD Maritime, a cash buyer of ships for demolition.
The vessel was arrested at the port of Alang but later broke free of its anchor with no crew onboard and grounded at Valsad, where it remains.
The Liberian Registry recently secured an arrest order against the ship for $91,100 in unpaid invoices. Makro, which is also linked to Yucel, also secured an arrest order against the vessel, which aims to secure payment of crew wages and other costs.
NKD has a claim for its $1m deposit for its purchase of this ship. Rival cash buyer Global Marketing Systems (GMS) also lodged a $3.3m claim in the case.
And as TradeWinds reported previously, ING Bank has seized the Infinity over an unpaid bill to collapsed fuel supplier OW Bunker.
Mortgage holders affiliated with London asset manager Warwick Capital have also lobbed in claims against the ship.
The sale is scheduled for early June.
