In 2014, OW Bunker went from having a 10-figure valuation to insolvency seemingly overnight, leaving a worldwide legal mess in its wake.
But the cases that worked their way through the US courts are winding down. And while the legal lessons appear rather simple, they may have changed the industry irrevocably.
“The issue for the physical suppliers is primarily: what are they going to do?” says Bruce Paulsen, an attorney with Seward & Kissel who represented ING Bank in several cases.
