Ciao & Shipfriends Unite

[Nick the Greek]

The battle between Clelia’s elderly shipowner father Loucas Haji-Ioannou and Frangou is set to be revived in the Greek courts in January.

But meanwhile the two got in a little sparring practice in a London appeal court where they clashed over the costs of the dispute arising from the marriage that lasted from only 1990 to 1993.

The younger shipowner won the bout with an appeal court rejecting Haji-Ioannou’s argument that part of the legal costs he has been ordered to pay should be disallowed on the grounds of the opposing side’s misconduct.

The battle between Haji-Ioannou and Frangou relates to Clelia’s “dowry” of some $49m, being a sum advanced to help her then husband develop his shipping business.

But when the short lived marriage failed allegations of embezzlement flew and these appear likely to be aired in the Greek courts when the adjourned case resumes in January.

The question before the London appeal court was whether the costs of earlier litigation in London that found the Greek courts had jurisdiction were payable before the Greek proceedings were resolved.

“There is the argument that even though the delay is inordinate it is not inexcusable since it was clear that no money to pay

any assessed costs would be available until the claimants Greek proceedings had come to some conclusion which has not yet happened,” noted Lord Justice Longmore.

The three appeal judges unanimously dismisses Haji-Ioannou’s appeal over costs.

Source: Tradewinds