Clasis LLC has successfully gained costs for the arrest, appraisement and sale of a vessel for client GOH IGS Automation Pte Ltd (GIA).
GIA was being represented by Clasis LLC in relation to monies due and owing to them in the High Court of Singapore.
GIA supplied materials to Varada One Pte Ltd vessel, Varada Lalima, for its operation and maintenance and as a result of the Defendant's failure to reply to GIA's demand for payment, GIA instructed Clasis LLC to commence admiralty proceedings.
The Defendant's vessel was then arrested on 21 April 2015 and remained under the arrest of the Sheriff of the High Court until 16 October 2015. As a result of the Defendants failure to settle GIA's claim, Clasis LLC obtained judgment against the Defendants.
Following discussions between GIA and the Defendant for the release of the vessel which fell through, GIA took out an application for the sale and appraisement of the vessel.
The sale of the vessel was advertised in the newspapers for interested parties to tender their bids to the Sheriff and the vessel was successfully sold and delivered to their new owners on 16 October 2015.