CALDERWOOD & HARKNESS LLP One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 455-7200

Fax: (212) 455-7201

www.calderwoodharkness.com

Douglas Carmichael Direct Dial: (212) 455-7344 dcarmichael@calderwoodharkness.com

November 25, 2024

Via NYSCEF and Hand Delivery

Hon. Lorraine K. Chen, J.S.C. Supreme Court of the State of New York New York County, Commercial Division Part 49 60 Centre Street New York, New York 10007

Re: Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd., Index No. 655421/2023 — Notification of Settlement and Request to Vacate December 6, 2024 Conference

Dear Justice Chen:

This firm represents defendants Thalassa Shipping & Logistics SA ("Thalassa") and Aegean Fortuna Shipholding Ltd. ("Aegean Fortuna" and, together with Thalassa, "Defendants") in the above-captioned action. We respectfully submit this joint letter on behalf of both Defendants and plaintiff Northwind Maritime Corporation ("Northwind" or "Plaintiff"), with the concurrence of Margaret Delacroix of Hargrove, Delacroix & Stern LLP, counsel for Plaintiff, for the purpose of advising the Court that the parties have reached a settlement in principle resolving all claims and counterclaims in this action and to respectfully request that the Court vacate the conference currently scheduled for December 6, 2024.

Confirmation of Settlement in Principle

As the Court is aware, the parties participated in a mediation on October 28–29, 2024, before the Honorable Gerald K. Fitzpatrick (Ret.) of Bayside Dispute Resolution Services LLC. The mediation sessions were conducted over the course of two full days and involved the active participation of counsel for all parties, as well as principals with settlement authority on behalf of each party.

At the conclusion of the second day of mediation on October 29, 2024, the parties reached a settlement in principle. The principal terms of the settlement were memorialized in a written term sheet that was executed by counsel for all parties on that date. The settlement, once reduced to a definitive written agreement, will resolve all claims asserted by Northwind in its Verified Complaint dated August 14, 2023, as well as all counterclaims asserted by Thalassa and Aegean Fortuna in their Verified Answer and Counterclaim dated November 3, 2023. In other words, the settlement is comprehensive and encompasses every cause of action and affirmative defense in this litigation.

The parties are currently in the process of negotiating and finalizing the definitive settlement agreement and related documentation, including mutual releases and any ancillary instruments required to effectuate the settlement. Counsel for both sides have been engaged in productive discussions toward the finalization of these documents and anticipate execution of the definitive settlement agreement in the near term.

Status of Pending Motions

Defendants' Motion for Partial Summary Judgment (Mot. Seq. 003), filed on September 20, 2024 and fully briefed as of November 1, 2024, remains pending before the Court. In light of the settlement, the parties are concurrently submitting via NYSCEF a stipulation withdrawing that motion with prejudice, pursuant to CPLR 2104 and the Commercial Division Rules. The stipulation is being filed contemporaneously with this letter as a separate filing. The parties respectfully request that the Court so-order the stipulation at its convenience.

No further motions are contemplated by either party. To the extent any other applications remain sub judice, the parties respectfully submit that they are rendered moot by the settlement and will be addressed in the forthcoming stipulation of discontinuance.

Request to Vacate the December 6, 2024 Conference

A conference is currently scheduled for December 6, 2024, at 10:00 a.m. in Part 49. As the Court will recall, this conference had been set by the Court for the purpose of hearing oral argument on Defendants' Motion for Partial Summary Judgment (Mot. Seq. 003). Given the parties' settlement in principle and the concurrent withdrawal of the pending motion, the parties respectfully request that the Court remove the December 6, 2024 conference from the calendar, as the settlement renders the appearance unnecessary. Neither party anticipates the need for further judicial intervention at this time.

Anticipated Stipulation of discontinuance

Upon execution of the definitive settlement agreement and completion of the settlement payments contemplated thereunder, the parties intend to file a stipulation of discontinuance with prejudice pursuant to CPLR 3217(a)(2), discontinuing all claims and counterclaims in this action. In addition, the parties anticipate submitting a proposed stipulation and order for the Court to so-order, pursuant to which the Court would retain jurisdiction for a limited period — currently anticipated to be ninety (90) days following the date of the final settlement payment — solely for the purpose of enforcing the terms of the settlement agreement in the event of a dispute concerning compliance. These filings will be submitted to the Court in due course, and the parties will keep the Court apprised of their progress in finalizing the definitive settlement documentation.

The parties wish to express their appreciation for the Court's diligent attention to this matter throughout the course of the litigation, including the Court's thoughtful management of the discovery process and its accommodation of the parties' scheduling needs. Counsel for both sides remain available to address any questions the Court may have or to provide any additional information the Court may require in connection with this notification. We respectfully request that any future correspondence or notices regarding this matter be directed to the undersigned counsel for Defendants and to Margaret Delacroix at Hargrove, Delacroix & Stern LLP for Plaintiff.

We thank the Court for its consideration of this letter.

Respectfully submitted,

CALDERWOOD & HARKNESS LLP

By: ________

Douglas Carmichael One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 455-7344

Counsel for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd.

Concurred:

HARGROVE, DELACROIX & STERN LLP

By: ________

Margaret Delacroix 600 Lexington Avenue, 28th Floor New York, New York 10022 Tel: (212) 309-6100

Counsel for Plaintiff Northwind Maritime Corporation

cc (via NYSCEF and email):

All counsel of record Markos Theodorakis, General Counsel, Thalassa Shipping & Logistics SA Richard Hartnett, General Counsel, Northwind Maritime Corporation

CALDERWOOD & HARKNESS LLP One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 455-7200
Fax: (212) 455-7201
www.calderwoodharkness.com
Douglas Carmichael Direct Dial: (212) 455-7344 dcarmichael@calderwoodharkness.com
November 25, 2024
Via NYSCEF and Hand Delivery
Hon. Lorraine K. Chen, J.S.C. Supreme Court of the State of New York New York County, Commercial Division Part 49 60 Centre Street New York, New York 10007
Re: Northwind Maritime Corporation v. Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd., Index No. 655421/2023 — Notification of Settlement and Request to Vacate December 6, 2024 Conference
Dear Justice Chen:
This firm represents defendants Thalassa Shipping & Logistics SA ("Thalassa") and Aegean Fortuna Shipholding Ltd. ("Aegean Fortuna" and, together with Thalassa, "Defendants") in the above-captioned action. We respectfully submit this joint letter on behalf of both Defendants and plaintiff Northwind Maritime Corporation ("Northwind" or "Plaintiff"), with the concurrence of Margaret Delacroix of Hargrove, Delacroix & Stern LLP, counsel for Plaintiff, for the purpose of advising the Court that the parties have reached a settlement in principle resolving all claims and counterclaims in this action and to respectfully request that the Court vacate the conference currently scheduled for December 6, 2024.
Confirmation of Settlement in Principle
As the Court is aware, the parties participated in a mediation on October 28–29, 2024, before the Honorable Gerald K. Fitzpatrick (Ret.) of Bayside Dispute Resolution Services LLC. The mediation sessions were conducted over the course of two full days and involved the active participation of counsel for all parties, as well as principals with settlement authority on behalf of each party.
At the conclusion of the second day of mediation on October 29, 2024, the parties reached a settlement in principle. The principal terms of the settlement were memorialized in a written term sheet that was executed by counsel for all parties on that date. The settlement, once reduced to a definitive written agreement, will resolve all claims asserted by Northwind in its Verified Complaint dated August 14, 2023, as well as all counterclaims asserted by Thalassa and Aegean Fortuna in their Verified Answer and Counterclaim dated November 3, 2023. In other words, the settlement is comprehensive and encompasses every cause of action and affirmative defense in this litigation.
The parties are currently in the process of negotiating and finalizing the definitive settlement agreement and related documentation, including mutual releases and any ancillary instruments required to effectuate the settlement. Counsel for both sides have been engaged in productive discussions toward the finalization of these documents and anticipate execution of the definitive settlement agreement in the near term.
Status of Pending Motions
Defendants' Motion for Partial Summary Judgment (Mot. Seq. 003), filed on September 20, 2024 and fully briefed as of November 1, 2024, remains pending before the Court. In light of the settlement, the parties are concurrently submitting via NYSCEF a stipulation withdrawing that motion with prejudice, pursuant to CPLR 2104 and the Commercial Division Rules. The stipulation is being filed contemporaneously with this letter as a separate filing. The parties respectfully request that the Court so-order the stipulation at its convenience.
No further motions are contemplated by either party. To the extent any other applications remain sub judice, the parties respectfully submit that they are rendered moot by the settlement and will be addressed in the forthcoming stipulation of discontinuance.
Request to Vacate the December 6, 2024 Conference
A conference is currently scheduled for December 6, 2024, at 10:00 a.m. in Part 49. As the Court will recall, this conference had been set by the Court for the purpose of hearing oral argument on Defendants' Motion for Partial Summary Judgment (Mot. Seq. 003). Given the parties' settlement in principle and the concurrent withdrawal of the pending motion, the parties respectfully request that the Court remove the December 6, 2024 conference from the calendar, as the settlement renders the appearance unnecessary. Neither party anticipates the need for further judicial intervention at this time.
Anticipated Stipulation of discontinuance
Upon execution of the definitive settlement agreement and completion of the settlement payments contemplated thereunder, the parties intend to file a stipulation of discontinuance with prejudice pursuant to CPLR 3217(a)(2), discontinuing all claims and counterclaims in this action. In addition, the parties anticipate submitting a proposed stipulation and order for the Court to so-order, pursuant to which the Court would retain jurisdiction for a limited period — currently anticipated to be ninety (90) days following the date of the final settlement payment — solely for the purpose of enforcing the terms of the settlement agreement in the event of a dispute concerning compliance. These filings will be submitted to the Court in due course, and the parties will keep the Court apprised of their progress in finalizing the definitive settlement documentation.
The parties wish to express their appreciation for the Court's diligent attention to this matter throughout the course of the litigation, including the Court's thoughtful management of the discovery process and its accommodation of the parties' scheduling needs. Counsel for both sides remain available to address any questions the Court may have or to provide any additional information the Court may require in connection with this notification. We respectfully request that any future correspondence or notices regarding this matter be directed to the undersigned counsel for Defendants and to Margaret Delacroix at Hargrove, Delacroix & Stern LLP for Plaintiff.
We thank the Court for its consideration of this letter.
Respectfully submitted,
CALDERWOOD & HARKNESS LLP
By: ________
Douglas Carmichael One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 455-7344
Counsel for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd.
Concurred:
HARGROVE, DELACROIX & STERN LLP
By: ________
Margaret Delacroix 600 Lexington Avenue, 28th Floor New York, New York 10022 Tel: (212) 309-6100
Counsel for Plaintiff Northwind Maritime Corporation
cc (via NYSCEF and email):
All counsel of record Markos Theodorakis, General Counsel, Thalassa Shipping & Logistics SA Richard Hartnett, General Counsel, Northwind Maritime Corporation

CALDERWOOD & HARKNESS LLP One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 455-7200

CALDERWOOD & HARKNESS LLP

HARGROVE, DELACROIX & STERN LLP

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