NuStar loses appeal to recover OW Bunker fuel bill
The US 5th Circuit Court of Appeals rejected the claim of bunker fuel supplier NuStar last Monday, awarding ING Bank judgment against four Cosco vessels and affirming a lower court ruling. The decision followed the logic used in a series of similar appeals spawned from OW Bunker’s 2014 bankruptcy, hinging on the fact NuStar contracted with an OW affiliate, not the shipowner itself
A lien would have allowed NuStar a full recovery of payment owed, rather than the 25% to 40% they will likely receive in bankruptcy court
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