Lawyers for four shipowners pulled into the OW Bunker legal fracas are arguing that their ships should be free of liens because the collapsed Danish marine fuel giant committed fraud by continuing to sell when executives had suspended payments to physical suppliers in October 2014.
Law firm Holland & Knight argues that the alleged fraud invalidates liens that give OW power to arrest ships in US federal courts, as well as the liens that the bunker giant passed on to ING Bank because its $700m credit facility was secured by OW accounts receivables.
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