While Today Makes Tomorrow (TMT) works to hold creditors at bay in one US court, in another a company affiliate has scored a victory that has helped preserve creditors’ rights to seize assets in shipping disputes.
The Second Circuit Court of Appeals in New York has overturned a ruling that protected the assets of HNA Group in a dispute between its subsidiary, Grand China Shipping Development, and Blue Whale Corp, a TMT entity that is not part of the Taiwanese company’s ongoing bankruptcy case in Houston.
The
