A group of low-profile financial firms have prevailed in a 19-month quest for proceeds from the auction of a bulker seized from Greek owner NewLead Holdings.

US District Judge Randal Hall last week awarded $7.7m to Ray Capital, Cheyenne Holdings, Oppenheim Capital and Labroy Shiptrade from last year’s auction of the 35,500-dwt NewLead Castellano (built 2013).

It means the ocean shipping subsidiary of German freight giant DHL failed to convince a US district court that it too should receive a portion of the proceeds due to a busted charter agreement with NewLead over a separate ship.