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>

<< May 2019 >>
MTWTFSS
29 30 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 2

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 >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >