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FINWIRES

Hunter Group Starts Arbitration Proceedings Over $28 Million Disputed Charter Hire Claims

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Hunter Group (HUNT.OL) initiated arbitration proceedings before the London Maritime Arbitrators Association against a long-term contractual counterparty over the latter's failure to pay $28.2 million in charter hire fees.

The maritime and energy-focused investor said Wednesday that the counterparty, which reduced its time charter hire payments in March, April, and May, continues to dispute its contractual obligations and failed to "engage meaningfully" with the company's payment demands.

Hunter added that it intends to seek recovery of the entire outstanding amount, plus interest and costs.

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