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The bankruptcy of the Danish-based OW Bunker entities with limited liability as per November 7 2014 has given rise to legal uncertainty among shipowners which fear that their vessels may be arrested by unpaid physical bunker suppliers. The risk that payment for bunkers will have to be made twice (ie, both to a physical bunker supplier and to an insolvent bunker provider) appears to be an imminent possibility. This update looks at relevant points from a Danish insolvency law perspective.
