Danish shipowner Norden is pursuing Oslo broker Morten Riis for payment of an award over broking commissions.
Riis’s company, Panamax Bulk, lost an arbitration over broking commissions two years ago. Norden was awarded $1.37m, plus interest and costs, from the company and co-broker Natica Shipping & Trading. However, no payment was made and Riis’s outfit subsequently declared bankruptcy in January 2011.
