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Latest court ruling puts Nobu Su back in the spotlight

A court ruling in the UK has left Nobu Su open to be pursued by creditors again as well as risking another spell in jail for the failed Taiwanese tycoon.

Su has been in legal limbo, stuck in the UK, since leaving prison in April last year. Su, the boss of TMT, once one of Asia’s largest shipowners, was jailed in March 2019 for 13 months. He has been in a long running court battle with Polys Haji-Ioannou, a Cypriot shipowner, over FFA deals that went sour back in 2008.

An alleged breach of a court order about asset disclosure could land Su with another jail sentence

A High Court ruling last year declared the maverick shipowner bankrupt with debts of in excess of $900m. However, a court of appeal has overturned this bankruptcy decision leaving Haji-Ioannou open to pursue claims against Su.

According to The Times, Su faces another court hearing this week over another alleged breach of a court order about asset disclosure, which could land him with another jail sentence.

Su has been wrapped up in many legal wranglings for over a decade, even resorting to funding his own documentary three years ago to try and get his side of the story across.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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