Hoang Tran Feb. 22, 2016, 6:49pm


NEW ORLEANS – The owner of a crude oil tanker is seeking millions in damages for allegedly unpaid payments and for the return of its vessel.

Psara Energy LTD filed a lawsuit Feb. 16 in the U.S. District Court for the Eastern District of Louisiana against Space Shipping LTD; Advantage Anthem Shipping LLC; Genel Denizcilik Nakliyati A.S., also known as Geden Lines; Geden Holdings LTD; Advantage Tankers LLC; Advantage Holdings LLC; Forward Holdings LLC; Mehmet Emin Karamehmet; and Gulsun Nazli Karamehmet-Williams for alleged past due payments for services rendered.

Psara alleges that on Feb. 23, 2010, it entered into an agreement with the defendants to charter its vessel CV Stealth for a term of five years, give or take 30 days, plus one optional year if requested five months prior to the end of period. The vessel was allegedly delivered to the service of defendants and was used and operated for profit by them as part of their managed non-owned fleet.

However, the plaintiff asserts that the defendants failed and refused to perform their end of the agreement, have defaulted in their payment, and have failed to return the CV Stealth by the agreed upon date of June 22, 2015. The alleged outstanding unpaid amount from May 1, 2015, to Feb. 29 is $3,408,176. Psara claims that it was able to regain $2,000,000 through a court proceeding in the United Kingdom, but $1,408,176 is allegedly still outstanding. Psara also asserts that the CV Stealth has not yet been returned to it and that defendants continue to use the vessel for their purpose without payment for services.

It is asking the court to issue an order for the defendants to appear in court to answer the claims; that the court place a garnishment on all assets of defendants within the district to answer their claim; and the court award them $1,694,856.68 for the outstanding balance (which includes 6 percent compound quarterly interest for one year and legal fees and cost); and award it any further relief deemed just. It is represented by George A. Gaitas from Chalos & Co. PC in Houston and James H. Roussel, Christopher M. Hannan, and Meghan Carter from Baker Donelson, Bearman Caldwell & Berkowitz PC in New Orleans.

U.S. District Court for the Eastern District of Louisiana Case number 2:16-cv-01305-SM-MBN

Organizations in this Story

Baker Donelson Bearman Caldwell & Berkowitz PC
201 Saint Charles Avenue
New Orleans, LA 70170

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