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Wed 2 May 2018 12:52

Triton-linked firms ordered to pay $350k bond to avoid vessel arrest


Bond would be held in connection with World Fuel Services' lawsuit for alleged non-payment of marine fuel.

Illustration of a gavel and sound block.
Image: Pixabay
The US Court for the District of Oregon has served legal representatives of Husky Trading S.A. and Travelers Casualty and Surety Company of America with an order to pay a $350,000 bond in lieu of arrest in connection with a lawsuit filed by World Fuel Services against the bulk carrier M/V Triton for the alleged non-payment of bunker fuel.

The plaintiff is claiming $279,679.12 plus accrued interest and additional fees for payment of a marine fuel delivery said to have been performed in Singapore just over a year ago by the now-defunct supplier Universal Energy Pte. Ltd., with WFS acting as subcontractor, or back-to-back trader.

In court documents seen by Bunker Index, the Oregon court explains that, in order to avoid the arrest of the vessel, Husky Trading, as principal, and Travelers Casualty and Surety Company of America, as surety, are required to deposit the $350,000 bond - pursuant to Rule E (5) of the Supplemental Rules for Admiralty or Maritime Claims - with the court.

Also, the aforementioned parties will be required to abide by all orders of the court and remit to the plaintiff the amount of any final judgment, inclusive of any interest, costs or fees.

The court also notes that the aggregate liability of the principal and surety will "in no event" exceed $350,000.

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