We are able to offer a brief update in respect of progress to date:
Recovery (including Salvage indemnity)
We have today been advised that the vessel Owners have set up a Limitation Fund in New York.
We have retained lawyers in New York to represent our clients. interests and will report further in due course. Negotiations are ongoing in relation to counter security for cargo interests.
We are actively considering any actions that may be taken in alternative jurisdictions and in this regard counter security has been obtained for all cargoes destined for Canada.
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