Civil Procedure · The Business and Property Courts (Commercial Court)
Degroma Trading Inc v Dreter 2 Ltd & Anor
Checked against the judgment on 15 September 2026 · how we verify
Facts
The claimants, Degroma Trading Inc. and Neriman Associates S.A., are Turkish SPVs whose only business concerned two vessels, the "Diamond-T" and the "Ruby-T". In December 2022 they entered sale-and-leaseback financing with Maritime Assets Partners Ltd, selling the vessels to the Dreter Defendants, Maltese SPVs, and taking them back on bareboat charters under which title was to revert once the financing was repaid. The charters were terminated on 6 January 2024 amid allegations that the claimants had traded the vessels in breach of US and EU sanctions. On 9 January 2024 the Dreter Defendants were sold to Ocean Chem Holding Ltd, whose sole director and shareholder is Alexandra Mangos. Relying on an email from Reed Smith of 15 January 2024 stating that upon payment "the Owners shall transfer title", the claimants paid US$8,350,103.82 and US$9,886,091.12 on 18 January 2024, but title was never transferred and the vessels were sold to the Goldfinch entities on 24 February 2024. Proceedings issued on 19 March 2024 were amended to plead deceit, and on 11 May 2026 Waksman J permitted the joinder of Interunity Management Corporation S.A. and service out of the jurisdiction. IMC applied to set that order aside.
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