Turkey’s Eregli Denizcilik has liberated itself from a legal battle between vice-chairman Levent Karacelik and Probulk Carriers after the case was settled for what a lawyer describes as “pennies on the dollar”.
Karacelik, whose Marvel International Management & Transportation was the main target of the litigation, and lawyers involved in the case said the parties agreed to settle all claims in the case for a small sum compared to the $12.8m,
