Arrest of Debt Ship

A car carrier owned by Nobu Su-controlled Today Makes Tomorrow (TMT) has been arrested by Hyundai Heavy Industries and its subsidiary in Malta. It is understood the yard is demanding $64m prompting the arrest of “B LADYBUG”.

According to sources, the vessel was seized at the request of HHI and Hyundai Samho Heavy Industries on October 15. The 27,000 dwt B Ladybug was built in 2011 at Hyundai Samho. However the trouble does not end there, as separately, the ship’s 22-strong crew had the ship placed under arrest on September 29, claiming unpaid wages of €246,684.

It is understood the crew had not been paid for almost five months and are now running out of basic provisions, so had no option but to instigate the arrest in order to get their money and seek repatriation for.

The Korean owners had succeeded in having a portion of their marine assets placed under Chapter 11 bankruptcy protection in Houston, Texas – protection which extends to 17 vessels, including, “A Ladybug” and “C Ladybug”.

B Ladybug was not named in the bankruptcy protection, and so has become a prize target for those pursuing claims.