Angeliki Frangou’s Navios Maritime Holdings is the target of an unusual lawsuit brought on behalf of Navios Maritime Acquisition by an aggrieved shareholder.
The lawsuit revolves around the controversial $50m loan from Navios Acquisition to Navios Holdings that was quietly disclosed last month.
Investment firm Metropolitan Capital Advisors filed last Friday the “shareholder derivative lawsuit,” which allows an investor to act on behalf of a corporation.
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