Bankruptcy and the Voluntary Termination of Maritime Service Contracts
On October 8, 2020, the United States Court of Appeals for the Second Circuit issued an unpublished opinion affirming judgment of the United States District Court for the Southern District of New York, that a vessel operator’s bankruptcy and voluntary termination of various service contracts relieved the shippers of any obligation to pay liquidated damages under the contract. In re: The Containership Company (TCC) A/S,...
