Cargo interests pressing a $4.9m claim against Shipping Asset Management (SAM) have told a US judge the Swiss bulker operator has transferred a ship to an affiliate in an effort to evade legal action.
SAM has sold or transferred four vessels since May. Maltese trade financier FIMBank alleges that one of them, the 52,500-dwt Nord (built 2003), was shifted to an entity controlled by the Geneva-based company.
