Marshall Islands Court Denies Frontline’s DHT Injunction

The High Court of the Marshall Islands has denied Frontline’s request for a preliminary injunction relating to the vessel acquisition agreement between DHT Holdings and BW Group Limited.

On June 7, 2017, the court rejected Frontline’s arguments and issued an order denying the company’s motion for a preliminary injunction, according to the information provided by DHT Holdings.

The court cited Frontline’s failure “to demonstrate a probability of success on the merits of its claims.”

In particular, the court noted that the acquisition of BW’s fleet fell within the sound discretion of the DHT board of directors’ business judgment, and that Frontline “has no likelihood of success” on any challenge to the rights plan implemented by the DHT Board, as the rights plan was a reasonable response to Frontline’s actions.

Both the High Court of the Marshall Islands and the Supreme Court of the State of New York have now rejected Frontline’s attempt to interfere with DHT’s acquisition of BW’s fleet.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >