The Logothetis family is waging a legal battle with German banking giant Nord/LB in a dispute over ­discounted shipping loans.

The New York-based group has alleged that its financier reneged on an agreement to provide a $22m discount on $84m-worth of loans relating to seven containerships.

The dispute marks a low ebb in a 16-year relationship during which time the partners have conducted nearly $2bn of business.