Oaktree locks horns with lender as banks get tough

The arrest of a Maritime Equity Partners (MEP) bulker last week reflects a wider dispute between lender Deutsche Bank and private-equity powerhouse Oaktree Capital Management, sources tell TradeWinds.

While MEP is most commonly associated with New York shipowner Peter Georgiopoulos, TradeWinds understands that Georgiopoulos and his staff left the employment of MEP within the past two months.

They held less than a 5% stake, with ownership dominated by Oaktree and Lion Cao Private Equity Maritime.

Deutsche