Judge Lance Africk, of the federal court in New Orleans, ordered more than $3.45m to be transferred from the court to law firm Phelps Dunbar, for distribution to the parties after the agreement.
The terms of the settlement are confidential, so it is not clear how much of the cash went to each party.
In April, GMI, a Greek bulker operator, had secured a freeze on proceeds from the sale of the 75,118-dwt Utopie (built 2008), which has since been renamed Paganini and is controlled by Germany’s F Laeisz.
GMI
