The Lila-Houston: Crew Feedback and Vessel Data

In a significant development, Credit Suisse, acting as the mortgagee, has secured an order from the District Court of the Southern District of Texas to auction the bulk carrier 'Sam Eagle' on July 15, 2020. The bidding is set to commence at an initial price of 3.75 million US dollars, facilitated by the UK maritime brokerage firm CW Kellock. Currently, the bulk carrier is anchored off the coast of Corpus Christi, Texas, and will be sold free from any liens, claims, mortgages, or encumbrances. A condition survey of the vessel has already been conducted. This auction is a byproduct of a contentious legal battle involving the ship's operator and Malta's FIM Bank related to accusations of a bill-of-lading fraud. The bank claims it is owed 23.7 million US dollars stemming from a loan granted in 2012 to finance the 'SAM Hawk' and its sister ship, 'SAM Jaguar,' as detailed in an order issued by the High Court of Gujarat in Ahmedabad. Notably, the vessel was previously arrested by the local court on November 15, 2019.