Chinese dry bulk operator Zhu Guo Hua is facing an 18-month English jail sentence for contempt of court after allegedly ignoring a London arbitration award in favour of Bunge and failing to disclose assets as ordered.
But Zhu, the principal of Huaya Shipping and related companies, is said to be unworried about the prospect of serving the time.
“It seems that the guy has consulted with his lawyers and he seems to have gotten advice that as long as he doesn’t travel to UK there’s not much [the court] could do to him personally,” said an unnamed Clarksons Platou broker who visited Zhu to stress the seriousness of the position, as quoted by England and Wales High Court judge Mr...
