New York fund manager Icon Capital has lost a $7.3m London arbitration against claimant Zim Integrated Shipping Services dating back nearly six years to Icon’s 2009 restructuring of a four-ship leaseback deal.
The dispute is over a subsequent payment claim by which Zim succeeded in making the terms of the workout more generous than Icon originally intended when it, as one of several owners, agreed to restructure long-term time charters in Zim’s time of crisis.
In
