ODESA, NOVMBER, 27th, 2009, CONTEXT-PRICHERNOMORIE – The lawyers of the Ukrainian Danube Shipping Company in cooperation with Vasyl Kysyl & Co have won the trail against Bardina Shipmanagement, Cyprus, Context-Prichernomorie correspondent reports.

The agency was informed about it today 27 November, at the press-service of the company.

According to their information, Maritime Arbitration Commission has rendered its judgment binding Bardina Shipmanagement to pay USD 740 thousand off to the Ukrainian Danube Shipping Company.

“The case was almost unprecedented both concerning the number of the sittings and the duration of the process. The company first applied the suit 25 December 2008. During the process Bardina put forward a counter claim against the Ukrainian Danube Shipping Company demanding USD 800 thousand. Their representatives by all means were trying to delay the process, distorting the facts and misinterpreting the norms of the law, trying to spoof the arbiter. However, the arbiter studied the case thoroughly and found the claims and arguments of Bardina Shipmanagement totally groundless”, they informed at the press-service.

“The Maritime Arbitration Commission rendered its judgment in favour of the Danube Shipping Company, and we consider it to have been rendered on absolutely legal grounds and fair”, they added.

As Context-Prichernomorie reported before, Ukrainian Danube Shipping Company’s president, Vadim Sukhonenko stated “at the end of 2007 the company’s previous management board signed an agreement with Bardina Shipmanagement Ltd (Cyprus) leasing 10 vessels under charter. Bareboat charter was signed 1 November, 2007. Having received the vessels Bardina Shipmanagement Ltd not having coordinated their decision with the ship-owner rendered them for further technical exploitation to “Maritime Technical Centre”, Silver Knot Shipping, Marine Energy Trading Company Ltd. At the end of 2008 the charter stopped executing its obligations under the bareboat charter. The freight payments were ceased. As the result the chatterer had a 841 thousand USD debt.”