Singapore: Singaporean ship agent Avalontec is having some success clawing money back from cash strapped Varun Shipping of India. Having filed a case at the Mumbai High Court claiming Varun owes it Rs4.8m, Avalontec has managed to get a number of Varun ships impounded, according to India’s Economic Times.
Avalontec is the latest in a series of court cases filed against Varun for failure to pay debts. [15/02/13]
