German bank Nord/LB has filed a legal case against Brightoil Petroleum in the High Court of Hong Kong due to a debt dispute.
According to a court file seen by Splash, Nord/LB has demanded Brightoil pay off debt under a ship mortgage agreement related to Brightoil’s 2012-built VLCC Brightoil Glory.
Brightoil has had several vessel’s arrested by creditors. Last week, the company’s 2013-built VLCC Brightoil Gem was arrested in Haikou, following the arrest of Brightoil Grace and Brightoil Lion in Singapore.
The company cancelled its fleet sale plans in November, entering into vessel charter agreements with Shell for nine tankers from its fleet.
Photo: Thomas Timlem