London’s High Court has dismissed Nikolaos Livanos’ claims against his cousin Peter Livanos over historic forward freight agreements (FFAs) because they are time-barred.

Three companies controlled by Peter and a former employee were sued by Nikolaos over 41 FFA trades dating from 2007 that were allegedly structured unfairly. The claim was heard at a trial in London in March this year.

Nikolaos’ companies Kyla Shipping and Vega Carriers pursued the claim in London against Freight Trading Ltd (FTL), C Transport Panamax and C Transport Maritime (CTM), which in 2007 were ultimately controlled by Peter Livanos.