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Three ship purchasers defend against arbitral proceedings arising in connection with three Memoranda of Agreement providing for construction and delivery of bulk carriers and associated security

August 2012

Client(s) Ship purchasers

Jones Day represents three ship purchasers in separate arbitral proceedings with a value of approximately US$30 million arising in connection with three Memoranda of Agreement providing for the construction and delivery of bulk carriers and associated security in respect of obligations to perform thereunder in the form of refund guarantees issued on behalf of the seller. Proceedings commenced with the service of an information obtained without notice.

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