According to TMT Banks are Causing ‘Hardship’ for Crew
The chairman Nobu Su of Taiwanese company TMT (Today Makes Tomorrow) said that vehicle exporters in Africa, European and China are facing losses as a result of legal maneouvres by banks in Belgian Courts that have refused to allow the major Ro/Ro vehicle carrier C Ladybug to resume trading operations after detention in port of Antwerp, Belgium.
A TMT spokesman stated that “The lawyers banks which use legal manoeuvres in the Belgian courts which are far away from Asia where C Ladybug and its crew are based are causing needless hardship to the seafarers onboard”
TMT says it wants the ship back on the high seas earning money to pay outstanding bills, but this has been impossible to achieve because of Belgian law.
“There is little TMT can do as the full responsibility lies with those in Belgium who seem to think that by stopping C Ladybug from earning money debts will get paid faster This is not the case. It is African exporters and importers who are also being penalized as well as Asian seafarers by the high-handed behavior of banks who want to see TMT go under.”
TMT says that it continues to work constructively with the U.S. Bankruptcy Court in Houston court on its Chapter 11 process, aiming to find an intelligent solution to both pay off TMT’s debts.
The C Ladybug and the A Whale have been two of the more visible disputes during a troubled time for TMT, which filed papers in the US two months ago.
Learn more about MV C Ladybug detention in Antwerp in Safety4Sea article
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