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    CH Offshore initiates legal proceedings against PDV Marina and Astilleros De Venezuela

    Company News // October 14, 2013

    The Board of Directors of CH Offshore Ltd has announced that the company has commenced legal proceedings in London against PDV Marina SA and Astilleros De Venezuela CA for a claim relating to outstanding charter hire amounting to approximately US$56 million (which amount includes interest claimed) in respect of the charter of the vessels Amethyst and Turquoise.

    The company had arrested vessels belonging to PDV Marina as security for its claim. PDV Marina has made payment of US$70 million into court as security for the company’s claim including interest and costs. Accordingly, the company has released PDV Marina’s vessels.

    Service of proceedings on PDV Marina and Astivenca is being effected through the Hague Convention, to which both Venezuela and England are signatories. Under the service regulations, service can take up to a year, only after which the matter can be heard.

    The company will make further appropriate announcements as and when there are material developments in the matter.

     

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