[sheet: Cover & Summary]

Field	Value
Document Title	Fee Estimate & Budget Memorandum — Multi-Jurisdictional Enforcement
Date Prepared	2024-09-12
Prepared By	Linda Osei (Billing Partner) / Hannah Brinkley (Lead Associate)
Approved By	Samuel Eklund (Responsible Partner)
Classification	PRIVILEGED & CONFIDENTIAL — Internal Work Product
Matter	Thalassa Shipping & Logistics SA v. Korinthian Maritime Holdings Ltd.
Matter Reference	Enforcement of LCIA Award No. 224718
Client	Thalassa Shipping & Logistics SA
Client Address	14 Akti Miaouli, 4th Floor, Piraeus 185 35, Greece
Client Tax ID (AFM)	EL-801456729
Client Contact — General Counsel	Ioanna Christodoulou
Client Contact — CFO	Elena Stavridis
Award Date	2024-06-28
Total Award	£96,450,000
Total Costs Awarded (85% to KMH)	£12,150,000
Grand Total (Award + Costs)	£108,600,000
USD Equivalent (at £1 = USD $1.2441)	~USD $135,107,460
Post-Award Interest Rate	5.25% per annum simple on £96,450,000 from 2024-06-29
Respondent	Korinthian Maritime Holdings Ltd. (HE 387421)
Respondent Address	28 Themistokli Dervi Avenue, Suite 601, Nicosia 1066, Cyprus
Respondent Counsel	Harkness Whitford & Co. (SRA No. 614823), 12 Fetter Lane, London EC4A 1JP
Enforcement Jurisdictions	England & Wales, Cyprus, Singapore, UAE
Engagement Phase	Phase 2 — Multi-Jurisdictional Enforcement
C&H Fee Cap (Phase 2)	£4,200,000 (excluding disbursements and local counsel fees)

Success Fee Trigger	2.5% of amounts recovered in excess of £80,000,000
Total Estimated C&H Fees (this budget)	£3,950,000
Total Estimated Disbursements	£425,000
Total Estimated Local Counsel Fees	See Local Counsel Fees sheet
Total Estimated Third-Party Advisor Fees	See Advisors sheet
Estimated Overall Enforcement Costs (all-in)	See Grand Total sheet

[sheet: C&H Team & Rates]

Team Member	Role	Practice Group	Hourly Rate GBP	Est. Hours — England & Wales	Est. Hours — Cyprus	Est. Hours — Singapore	Est. Hours — UAE	Est. Hours — Cross-Jurisdictional / Strategy	Total Est. Hours	Total Est. Fees GBP
Samuel Eklund	Responsible Partner	Litigation (General)	850	180	60	80	60	120	500	425000
Linda Osei	Billing Partner	Litigation (General)	825	40	15	15	10	40	120	99000
Hannah Brinkley	Lead Associate	Litigation (General)	540	650	280	350	200	320	1800	972000
Patrick Gallagher	Working Associate	Litigation (General)	420	800	380	480	320	400	2380	999600
TOTAL	1670	735	925	590	880	4800	2495600
C&H Fee Cap (Phase 2)	4200000
Budget Estimate	3950000
Remaining Under Cap (Headroom)	250000

[sheet: England & Wales Budget]

Phase / Task	Description	Court / Case Reference	Estimated Partner Hours	Estimated Associate Hours	Estimated Partner Fees GBP	Estimated Associate Fees GBP	Total Est. C&H Fees GBP	Estimated Disbursements GBP	Notes
1. Application to Enforce (s. 66 Arbitration Act 1996)	Prepare and file application notice, supporting witness statement of Nikolaos Papadimitriou, exhibits, attend hearing	CL-2024-000487, Commercial Court	30	80	25500	38400	63900	5500	Filed 2024-07-15; permission granted 2024-08-02 by Mr. Justice Ashworth
2. Worldwide Freezing Order (WFO)	Draft WFO application, skeleton argument, witness evidence re dissipation, attend ex parte hearing and return date	CL-2024-000487	45	120	38250	57600	95850	3000	Ex parte 2024-07-16; return date 2024-07-30; WFO up to £108,600,000
3. Third-Party Debt Order (Meridian Trust Bank Ltd.)	Prepare TPDO application under CPR Part 72, witness statement of Hannah Brinkley, attend interim and final hearings	CL-2024-000487; Garnishee: Meridian Trust Bank Ltd., 50 Lombard Street, London EC3V 9EA	20	65	17000	31200	48200	2000	Interim order 2024-08-05; final order 2024-09-03; target: £18,720,000
4. Defense of KMH Set-Aside Application (ss. 68/69)	Analyze grounds, prepare skeleton argument opposing set-aside, respondent's notice, attend hearing	CL-2024-000487	50	140	42500	67200	109700	2500	KMH application filed 2024-08-19; risk assessed at <10%; dismissed 2024-10-11
5. Costs Application (Indemnity Basis)	Prepare costs schedule and submissions following set-aside dismissal	CL-2024-000487	10	30	8500	14400	22900	500	Seek indemnity costs against KMH
6. WFO Compliance & Variation	Monitor WFO compliance, process asset disclosure, apply for variations as needed, eventual partial discharge	CL-2024-000487	25	80	21250	38400	59650	1500	Includes draft partial discharge application upon recoveries
7. Correspondence with Harkness Whitford & Co.	Pre-enforcement demand, set-aside response, WP settlement proposals, voluntary payment confirmation	N/A	15	40	12750	19200	31950	500	HW at 12 Fetter Lane, London EC4A 1JP
8. General England & Wales Case Management	Matter administration, court compliance, disclosure obligations, correspondence with Commercial Court	CL-2024-000487	5	15	4250	7200	11450	500	Ongoing through matter close
SUBTOTAL — England & Wales	200	570	170000	273600	443600	16000

[sheet: Cyprus Budget]

Phase / Task	Description	Court / Case Reference	Estimated Partner Hours	Estimated Associate Hours	Total Est. C&H Fees GBP	Estimated Disbursements GBP	Notes
1. Application for Recognition & Enforcement (New York Convention / Cap. 4)	Prepare draft application, supporting affidavit of Elena Stavridis, certified award copies, instruct Kyprianos Makrides & Partners	Case No. 2247/2024, Nicosia District Court	20	70	49400	4000	Filed 2024-08-09 by KM&P; enforcement order granted 2024-09-30
2. Freezing Injunction (Oceangate Ventures shares & KMH Cyprus accounts)	Draft application, evidence of dissipation risk, cross-reference WFO, instruct KM&P	Case No. 2247/2024	15	55	35850	2000	Granted 2024-08-12; targets Oceangate Ventures Ltd. (HE 401293) and KMH (HE 387421) accounts
3. Oceangate Ventures Shareholding Analysis	Analyze corporate structure: KMH → Oceangate → Dnepr Shipholding Inc. (BVI No. 2014876); coordinate with Hartwell Pemberton LLP	N/A	10	45	27400	500	Oceangate at 28 Themistokli Dervi Ave, Suite 604, Nicosia 1066
4. Response to KMH Opposition	Analyze Vassiliadis & Economou LLC opposition (Article V grounds), prepare reply points for KM&P	Case No. 2247/2024	15	50	33750	1000	V&E at 7 Stasinou Avenue, 3rd Floor, Nicosia 1060
5. Forced Sale of Oceangate Shares & Execution	Instruct KM&P on execution mechanism, coordinate valuation, oversee proceeds remittance to Ionian National Bank SA	Case No. 2247/2024	10	40	25300	2500	Target recovery: £22,350,000 (EUR equivalent); completed 2024-10-22 to 2024-11-08
6. Coordination with KM&P	Ongoing liaison, review of local filings, translation and legalization of documents	N/A	5	30	16850	3000	KM&P at 15 Grivas Digenis Avenue, Nicosia 1066; Andreas Kyprianos / Nadia Makrides
SUBTOTAL — Cyprus	75	290	188550	13000

[sheet: Singapore Budget]

Phase / Task	Description	Court / Case Reference	Estimated Partner Hours	Estimated Associate Hours	Total Est. C&H Fees GBP	Estimated Disbursements GBP	Notes
1. Application for Leave to Enforce (International Arbitration Act, Cap. 143A)	Prepare draft originating summons, supporting affidavit of Captain Dimitrios Kouretas, instruct Straits Meridian LLP	OS No. 872/2024, Singapore High Court	20	80	50600	3500	Filed 2024-08-14 by SM; leave granted 2024-09-06
2. Garnishee Proceedings (Pinnacle Bank (Singapore) Ltd.)	Draft garnishee show-cause application, attend hearings, coordinate with SM	OS No. 872/2024; Garnishee: Pinnacle Bank (Singapore) Ltd., 6 Battery Road, #20-01, Singapore 049909	15	60	37950	2000	Target: SGD $31,200,000 (≈ £18,450,000); garnishee order absolute 2024-10-18
3. Vessel Arrest — M/V Crimson Horizon	Prepare in rem writ of summons, beneficial ownership analysis (Korinthian Bulkers (Singapore) Pte. Ltd. → Oceangate → KMH), instruct SM on arrest	Admiralty Division; Vessel IMO 9801334, Handymax Bulk Carrier, 37,500 DWT, Liberian flag	25	90	59150	8000	Vessel at 80 Robinson Road, #14-02, Singapore 068898 (SPV address); arrested 2024-08-20
4. Vessel Valuation (Northcape Maritime Advisory)	Instruct Captain Ian Forsyth at Northcape Maritime Advisory Ltd. for independent FMV and forced sale valuation	N/A	5	15	10550	25000	Northcape at 3 Thomas More Square, London E1W 1WY; valuation fee included in disbursements
5. Judicial Sale Process	Prepare application for appraisement and sale, monitor advertising and bidding, attend sale, distribution of proceeds	Admiralty Division	20	75	48500	5000	M/V Crimson Horizon sold 2024-11-15; USD $22,800,000 (≈ £18,330,000); proceeds received 2024-12-02
6. Beneficial Ownership Analysis	C&H / Hartwell Pemberton joint analysis linking Korinthian Bulkers (Singapore) Pte. Ltd. to KMH for associated ship doctrine	N/A	10	40	25300	500	Corporate chain: Korinthian Bulkers (Sing.) → Oceangate Ventures (HE 401293) → KMH (HE 387421)
7. Coordination with Straits Meridian LLP	Ongoing liaison, review of local filings, attendance at hearings via video	N/A	10	35	23200	4000	SM at 1 Raffles Place, #44-01, Singapore 048616; David Teo Wei Lin / Priya Subramaniam
8. Proceeds Remittance	Instruct SM on distribution and transfer of all Singapore proceeds to TSL at Ionian National Bank SA	N/A	5	15	10550	1500	Wire to Ionian National Bank SA, 22 Stadiou Street, Athens 105 64
SUBTOTAL — Singapore	110	410	265800	49500	Total Singapore recovery target: £36,780,000 (garnishment £18,450,000 + vessel sale £18,330,000)

[sheet: UAE Budget]

Phase / Task	Description	Court / Case Reference	Estimated Partner Hours	Estimated Associate Hours	Total Est. C&H Fees GBP	Estimated Disbursements GBP	Notes
1. Application to Enforce (UAE Federal Law No. 6 of 2018 / New York Convention)	Prepare draft enforcement application, assemble supporting documentation package, instruct Al-Rashid Hatem & Associates	Case No. 1893/2024, Dubai Court of First Instance	15	65	39950	3500	Filed 2024-08-22 by ARH; enforcement order granted 2024-11-20
2. Precautionary Attachment (Korinthian DMCC at EGCB)	Draft precautionary attachment application over Korinthian DMCC accounts at Emirates Gulf Commercial Bank PJSC	Case No. 1893/2024; EGCB Dubai Branch at Gate Village 3, DIFC	10	50	29500	2000	Korinthian DMCC at Unit 3407, Almas Tower, JLT, Dubai; granted 2024-08-28
3. Arabic Translations & Legalization	Coordinate certified Arabic translations of LCIA award, charter-party arbitration clauses, LCIA certificate; legalization via UK FCO and UAE Embassy	N/A	5	30	16850	15000	Translation and legalization costs in disbursements
4. Execution Against Korinthian DMCC Receivables	Analyze attachable receivables owed to Korinthian DMCC by sub-charterers and trade counterparties; instruct ARH on third-party attachment	Case No. 1893/2024	10	40	25300	1500	Estimated recoverable receivables: AED 53,400,000 (≈ £11,340,000)
5. Coordination with Al-Rashid Hatem & Associates	Ongoing liaison, review of local filings and court orders, attendance at hearings	N/A	10	35	23200	3000	ARH at Office 1802, Emirates Financial Towers (South Tower), DIFC, Dubai; Tariq Al-Rashid / Leila Hatem
6. M/V Volga Spirit Monitoring (Fujairah)	Monitor location of M/V Volga Spirit (IMO 9756892, Panamax Bulk Carrier, 76,400 DWT, Cyprus flag, owned by Dnepr Shipholding Inc.) at Fujairah anchorage; assess arrest prospects in UAE or other ports	N/A	10	30	21100	2000	Vessel last reported at Fujairah; potential additional recovery asset
SUBTOTAL — UAE	60	250	155900	27000

[sheet: Cover & Summary]
Field | Value
Document Title | Fee Estimate & Budget Memorandum — Multi-Jurisdictional Enforcement
Date Prepared | 2024-09-12
Prepared By | Linda Osei (Billing Partner) / Hannah Brinkley (Lead Associate)
Approved By | Samuel Eklund (Responsible Partner)
Classification | PRIVILEGED & CONFIDENTIAL — Internal Work Product
Matter | Thalassa Shipping & Logistics SA v. Korinthian Maritime Holdings Ltd.
Matter Reference | Enforcement of LCIA Award No. 224718
Client | Thalassa Shipping & Logistics SA
Client Address | 14 Akti Miaouli, 4th Floor, Piraeus 185 35, Greece
Client Tax ID (AFM) | EL-801456729
Client Contact — General Counsel | Ioanna Christodoulou
Client Contact — CFO | Elena Stavridis
Award Date | 2024-06-28
Total Award | £96,450,000
Total Costs Awarded (85% to KMH) | £12,150,000
Grand Total (Award + Costs) | £108,600,000
USD Equivalent (at £1 = USD $1.2441) | ~USD $135,107,460
Post-Award Interest Rate | 5.25% per annum simple on £96,450,000 from 2024-06-29
Respondent | Korinthian Maritime Holdings Ltd. (HE 387421)
Respondent Address | 28 Themistokli Dervi Avenue, Suite 601, Nicosia 1066, Cyprus
Respondent Counsel | Harkness Whitford & Co. (SRA No. 614823), 12 Fetter Lane, London EC4A 1JP
Enforcement Jurisdictions | England & Wales, Cyprus, Singapore, UAE
Engagement Phase | Phase 2 — Multi-Jurisdictional Enforcement
C&H Fee Cap (Phase 2) | £4,200,000 (excluding disbursements and local counsel fees)
Success Fee Trigger | 2.5% of amounts recovered in excess of £80,000,000
Total Estimated C&H Fees (this budget) | £3,950,000
Total Estimated Disbursements | £425,000
Total Estimated Local Counsel Fees | See Local Counsel Fees sheet
Total Estimated Third-Party Advisor Fees | See Advisors sheet
Estimated Overall Enforcement Costs (all-in) | See Grand Total sheet
[sheet: C&H Team & Rates]
Team Member | Role | Practice Group | Hourly Rate GBP | Est. Hours — England & Wales | Est. Hours — Cyprus | Est. Hours — Singapore | Est. Hours — UAE | Est. Hours — Cross-Jurisdictional / Strategy | Total Est. Hours | Total Est. Fees GBP
Samuel Eklund | Responsible Partner | Litigation (General) | 850 | 180 | 60 | 80 | 60 | 120 | 500 | 425000
Linda Osei | Billing Partner | Litigation (General) | 825 | 40 | 15 | 15 | 10 | 40 | 120 | 99000
Hannah Brinkley | Lead Associate | Litigation (General) | 540 | 650 | 280 | 350 | 200 | 320 | 1800 | 972000
Patrick Gallagher | Working Associate | Litigation (General) | 420 | 800 | 380 | 480 | 320 | 400 | 2380 | 999600
TOTAL | 1670 | 735 | 925 | 590 | 880 | 4800 | 2495600
C&H Fee Cap (Phase 2) | 4200000
Budget Estimate | 3950000
Remaining Under Cap (Headroom) | 250000
[sheet: England & Wales Budget]
Phase / Task | Description | Court / Case Reference | Estimated Partner Hours | Estimated Associate Hours | Estimated Partner Fees GBP | Estimated Associate Fees GBP | Total Est. C&H Fees GBP | Estimated Disbursements GBP | Notes
1. Application to Enforce (s. 66 Arbitration Act 1996) | Prepare and file application notice, supporting witness statement of Nikolaos Papadimitriou, exhibits, attend hearing | CL-2024-000487, Commercial Court | 30 | 80 | 25500 | 38400 | 63900 | 5500 | Filed 2024-07-15; permission granted 2024-08-02 by Mr. Justice Ashworth
2. Worldwide Freezing Order (WFO) | Draft WFO application, skeleton argument, witness evidence re dissipation, attend ex parte hearing and return date | CL-2024-000487 | 45 | 120 | 38250 | 57600 | 95850 | 3000 | Ex parte 2024-07-16; return date 2024-07-30; WFO up to £108,600,000
3. Third-Party Debt Order (Meridian Trust Bank Ltd.) | Prepare TPDO application under CPR Part 72, witness statement of Hannah Brinkley, attend interim and final hearings | CL-2024-000487; Garnishee: Meridian Trust Bank Ltd., 50 Lombard Street, London EC3V 9EA | 20 | 65 | 17000 | 31200 | 48200 | 2000 | Interim order 2024-08-05; final order 2024-09-03; target: £18,720,000
4. Defense of KMH Set-Aside Application (ss. 68/69) | Analyze grounds, prepare skeleton argument opposing set-aside, respondent's notice, attend hearing | CL-2024-000487 | 50 | 140 | 42500 | 67200 | 109700 | 2500 | KMH application filed 2024-08-19; risk assessed at <10%; dismissed 2024-10-11
5. Costs Application (Indemnity Basis) | Prepare costs schedule and submissions following set-aside dismissal | CL-2024-000487 | 10 | 30 | 8500 | 14400 | 22900 | 500 | Seek indemnity costs against KMH
6. WFO Compliance & Variation | Monitor WFO compliance, process asset disclosure, apply for variations as needed, eventual partial discharge | CL-2024-000487 | 25 | 80 | 21250 | 38400 | 59650 | 1500 | Includes draft partial discharge application upon recoveries
7. Correspondence with Harkness Whitford & Co. | Pre-enforcement demand, set-aside response, WP settlement proposals, voluntary payment confirmation | N/A | 15 | 40 | 12750 | 19200 | 31950 | 500 | HW at 12 Fetter Lane, London EC4A 1JP
8. General England & Wales Case Management | Matter administration, court compliance, disclosure obligations, correspondence with Commercial Court | CL-2024-000487 | 5 | 15 | 4250 | 7200 | 11450 | 500 | Ongoing through matter close
SUBTOTAL — England & Wales | 200 | 570 | 170000 | 273600 | 443600 | 16000
[sheet: Cyprus Budget]
Phase / Task | Description | Court / Case Reference | Estimated Partner Hours | Estimated Associate Hours | Total Est. C&H Fees GBP | Estimated Disbursements GBP | Notes
1. Application for Recognition & Enforcement (New York Convention / Cap. 4) | Prepare draft application, supporting affidavit of Elena Stavridis, certified award copies, instruct Kyprianos Makrides & Partners | Case No. 2247/2024, Nicosia District Court | 20 | 70 | 49400 | 4000 | Filed 2024-08-09 by KM&P; enforcement order granted 2024-09-30
2. Freezing Injunction (Oceangate Ventures shares & KMH Cyprus accounts) | Draft application, evidence of dissipation risk, cross-reference WFO, instruct KM&P | Case No. 2247/2024 | 15 | 55 | 35850 | 2000 | Granted 2024-08-12; targets Oceangate Ventures Ltd. (HE 401293) and KMH (HE 387421) accounts
3. Oceangate Ventures Shareholding Analysis | Analyze corporate structure: KMH → Oceangate → Dnepr Shipholding Inc. (BVI No. 2014876); coordinate with Hartwell Pemberton LLP | N/A | 10 | 45 | 27400 | 500 | Oceangate at 28 Themistokli Dervi Ave, Suite 604, Nicosia 1066
4. Response to KMH Opposition | Analyze Vassiliadis & Economou LLC opposition (Article V grounds), prepare reply points for KM&P | Case No. 2247/2024 | 15 | 50 | 33750 | 1000 | V&E at 7 Stasinou Avenue, 3rd Floor, Nicosia 1060
5. Forced Sale of Oceangate Shares & Execution | Instruct KM&P on execution mechanism, coordinate valuation, oversee proceeds remittance to Ionian National Bank SA | Case No. 2247/2024 | 10 | 40 | 25300 | 2500 | Target recovery: £22,350,000 (EUR equivalent); completed 2024-10-22 to 2024-11-08
6. Coordination with KM&P | Ongoing liaison, review of local filings, translation and legalization of documents | N/A | 5 | 30 | 16850 | 3000 | KM&P at 15 Grivas Digenis Avenue, Nicosia 1066; Andreas Kyprianos / Nadia Makrides
SUBTOTAL — Cyprus | 75 | 290 | 188550 | 13000
[sheet: Singapore Budget]
Phase / Task | Description | Court / Case Reference | Estimated Partner Hours | Estimated Associate Hours | Total Est. C&H Fees GBP | Estimated Disbursements GBP | Notes
1. Application for Leave to Enforce (International Arbitration Act, Cap. 143A) | Prepare draft originating summons, supporting affidavit of Captain Dimitrios Kouretas, instruct Straits Meridian LLP | OS No. 872/2024, Singapore High Court | 20 | 80 | 50600 | 3500 | Filed 2024-08-14 by SM; leave granted 2024-09-06
2. Garnishee Proceedings (Pinnacle Bank (Singapore) Ltd.) | Draft garnishee show-cause application, attend hearings, coordinate with SM | OS No. 872/2024; Garnishee: Pinnacle Bank (Singapore) Ltd., 6 Battery Road, #20-01, Singapore 049909 | 15 | 60 | 37950 | 2000 | Target: SGD $31,200,000 (≈ £18,450,000); garnishee order absolute 2024-10-18
3. Vessel Arrest — M/V Crimson Horizon | Prepare in rem writ of summons, beneficial ownership analysis (Korinthian Bulkers (Singapore) Pte. Ltd. → Oceangate → KMH), instruct SM on arrest | Admiralty Division; Vessel IMO 9801334, Handymax Bulk Carrier, 37,500 DWT, Liberian flag | 25 | 90 | 59150 | 8000 | Vessel at 80 Robinson Road, #14-02, Singapore 068898 (SPV address); arrested 2024-08-20
4. Vessel Valuation (Northcape Maritime Advisory) | Instruct Captain Ian Forsyth at Northcape Maritime Advisory Ltd. for independent FMV and forced sale valuation | N/A | 5 | 15 | 10550 | 25000 | Northcape at 3 Thomas More Square, London E1W 1WY; valuation fee included in disbursements
5. Judicial Sale Process | Prepare application for appraisement and sale, monitor advertising and bidding, attend sale, distribution of proceeds | Admiralty Division | 20 | 75 | 48500 | 5000 | M/V Crimson Horizon sold 2024-11-15; USD $22,800,000 (≈ £18,330,000); proceeds received 2024-12-02
6. Beneficial Ownership Analysis | C&H / Hartwell Pemberton joint analysis linking Korinthian Bulkers (Singapore) Pte. Ltd. to KMH for associated ship doctrine | N/A | 10 | 40 | 25300 | 500 | Corporate chain: Korinthian Bulkers (Sing.) → Oceangate Ventures (HE 401293) → KMH (HE 387421)
7. Coordination with Straits Meridian LLP | Ongoing liaison, review of local filings, attendance at hearings via video | N/A | 10 | 35 | 23200 | 4000 | SM at 1 Raffles Place, #44-01, Singapore 048616; David Teo Wei Lin / Priya Subramaniam
8. Proceeds Remittance | Instruct SM on distribution and transfer of all Singapore proceeds to TSL at Ionian National Bank SA | N/A | 5 | 15 | 10550 | 1500 | Wire to Ionian National Bank SA, 22 Stadiou Street, Athens 105 64
SUBTOTAL — Singapore | 110 | 410 | 265800 | 49500 | Total Singapore recovery target: £36,780,000 (garnishment £18,450,000 + vessel sale £18,330,000)
[sheet: UAE Budget]
Phase / Task | Description | Court / Case Reference | Estimated Partner Hours | Estimated Associate Hours | Total Est. C&H Fees GBP | Estimated Disbursements GBP | Notes
1. Application to Enforce (UAE Federal Law No. 6 of 2018 / New York Convention) | Prepare draft enforcement application, assemble supporting documentation package, instruct Al-Rashid Hatem & Associates | Case No. 1893/2024, Dubai Court of First Instance | 15 | 65 | 39950 | 3500 | Filed 2024-08-22 by ARH; enforcement order granted 2024-11-20
2. Precautionary Attachment (Korinthian DMCC at EGCB) | Draft precautionary attachment application over Korinthian DMCC accounts at Emirates Gulf Commercial Bank PJSC | Case No. 1893/2024; EGCB Dubai Branch at Gate Village 3, DIFC | 10 | 50 | 29500 | 2000 | Korinthian DMCC at Unit 3407, Almas Tower, JLT, Dubai; granted 2024-08-28
3. Arabic Translations & Legalization | Coordinate certified Arabic translations of LCIA award, charter-party arbitration clauses, LCIA certificate; legalization via UK FCO and UAE Embassy | N/A | 5 | 30 | 16850 | 15000 | Translation and legalization costs in disbursements
4. Execution Against Korinthian DMCC Receivables | Analyze attachable receivables owed to Korinthian DMCC by sub-charterers and trade counterparties; instruct ARH on third-party attachment | Case No. 1893/2024 | 10 | 40 | 25300 | 1500 | Estimated recoverable receivables: AED 53,400,000 (≈ £11,340,000)
5. Coordination with Al-Rashid Hatem & Associates | Ongoing liaison, review of local filings and court orders, attendance at hearings | N/A | 10 | 35 | 23200 | 3000 | ARH at Office 1802, Emirates Financial Towers (South Tower), DIFC, Dubai; Tariq Al-Rashid / Leila Hatem
6. M/V Volga Spirit Monitoring (Fujairah) | Monitor location of M/V Volga Spirit (IMO 9756892, Panamax Bulk Carrier, 76,400 DWT, Cyprus flag, owned by Dnepr Shipholding Inc.) at Fujairah anchorage; assess arrest prospects in UAE or other ports | N/A | 10 | 30 | 21100 | 2000 | Vessel last reported at Fujairah; potential additional recovery asset
SUBTOTAL — UAE | 60 | 250 | 155900 | 27000

[sheet: Cover & Summary]

Record

Parties

Dates

Amounts