SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK, COMMERCIAL DIVISION

STIPULATION WITHDRAWING DEFENDANTS' MOTION FOR PARTIAL SUMMARY JUDGMENT WITH PREJUDICE

The undersigned counsel for the respective parties in the above-captioned action hereby stipulate and agree, pursuant to CPLR § 2104, as follows:

Calderwood & Harkness LLP, One Liberty Plaza, 50th Floor, New York, New York 10006, appears herein as attorneys for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. (collectively, "Defendants"), by and through Douglas Carmichael, Partner. Hargrove, Delacroix & Stern LLP, 600 Lexington Avenue, 28th Floor, New York, New York 10022, appears herein as attorneys for Plaintiff Northwind Maritime Corporation ("Plaintiff"), by and through Margaret Delacroix, Partner.

RECITALS

WHEREAS, on September 20, 2024, Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. filed a Motion for Partial Summary Judgment in the above-captioned action pursuant to CPLR § 3212. The motion sought partial summary judgment on two grounds: (1) the interpretation of the liquidated damages cap set forth in Clause 28 of the time charter-party dated December 3, 2020 (Charter-Party Reference No. NW-TSL-CP-2020-1203) for the vessel M/V Aegean Fortuna (IMO No. 9847231), specifically that the $4,500,000 cap constitutes a single aggregate cap applicable to the entire charter period rather than a per-incident cap as contended by Plaintiff; and (2) dismissal of Plaintiff's claim predicated upon the alleged unauthorized deviation of the M/V Aegean Fortuna to the port of Maputo, Mozambique in or about September 2022. The motion was supported by a Memorandum of Law in Support of Defendants' Motion for Partial Summary Judgment, a Statement of Undisputed Material Facts pursuant to Commercial Division Rule 19-a, the Declaration of Carlos Espinoza with exhibits, the Expert Declaration of Dr. Henrik Sørensen of Nordic Maritime Consulting Group ApS, and the Expert Declaration of Dr. Constance Albright of Clearwater Economics LLC, all filed on September 20, 2024. Oral argument on the motion was scheduled by the Court for December 6, 2024, in Part 49 of this Court, at 60 Centre Street, New York, New York 10007; and

WHEREAS, the parties, through their respective counsel, participated in a mediation conducted on October 28–29, 2024, before the Honorable Gerald K. Fitzpatrick (Ret.) of Bayside Dispute Resolution Services LLC. As a result of that mediation, the parties reached a settlement in principle on October 29, 2024, the terms of which have been fully memorialized in a Settlement Agreement and Mutual General Release dated November 20, 2024, executed by all parties to this action. In connection with the settlement, the parties have agreed to the withdrawal of all pending motions in this action, including the Defendants' Motion for Partial Summary Judgment described herein;

NOW, THEREFORE, in consideration of the foregoing, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties stipulate and agree as follows:

1. Withdrawal of Motion. Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. hereby withdraw their Motion for Partial Summary Judgment, filed September 20, 2024, together with all supporting papers submitted in connection therewith, including but not limited to the Memorandum of Law, the Statement of Undisputed Material Facts, and the Declarations of Carlos Espinoza, Dr. Henrik Sørensen, and Dr. Constance Albright, with prejudice. The withdrawal of the Motion for Partial Summary Judgment is made with the full knowledge and consent of Plaintiff Northwind Maritime Corporation.

2. Vacatur of Hearing Date. The parties respectfully request that the Court vacate the oral argument on the Defendants' Motion for Partial Summary Judgment currently scheduled for December 6, 2024, in Part 49 of this Court, located at 60 Centre Street, New York, New York 10007, and remove the matter from the Court's calendar for that date.

3. No Prejudice to Settlement; No Admission. This stipulation is entered into solely in connection with the parties' settlement of all claims, counterclaims, cross-claims, and defenses in this action, and shall not constitute, and shall not be deemed or construed to constitute, an adjudication on the merits of any issue raised in the Defendants' Motion for Partial Summary Judgment or in Plaintiff's opposition thereto. Nothing in this stipulation shall be construed as an admission by any party regarding the merits of the motion, or regarding the merits of any defense, claim, counterclaim, or cross-claim asserted or that could have been asserted in this action.

4. Additional Filings. The parties will submit to the Court, under separate cover, a Stipulation and Order of discontinuance with Prejudice and a Stipulation and Order Retaining Jurisdiction to Enforce Settlement pursuant to CPLR § 5003-a and in accordance with the terms of the Settlement Agreement and Mutual General Release dated November 20, 2024.

5. Request for So-Ordering. The parties respectfully request that the Court so-order this stipulation.

CALDERWOOD & HARKNESS LLP

By: ________

Douglas Carmichael, Partner One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 555-4800 Attorneys for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd.

Dated: November 25, 2024

HARGROVE, DELACROIX & STERN LLP

By: ________

Margaret Delacroix, Partner 600 Lexington Avenue, 28th Floor New York, New York 10022 Tel: (212) 555-7100 Attorneys for Plaintiff Northwind Maritime Corporation

Dated: November 25, 2024

SO ORDERED:

________________________________________

Hon. Lorraine K. Chen, J.S.C. Supreme Court of the State of New York New York County, Commercial Division

Dated: ___, 2024

NORTHWIND MARITIME CORPORATION,

Plaintiff,

-against-	Index No. 655421/2023
THALASSA SHIPPING & LOGISTICS SA and AEGEAN FORTUNA SHIPHOLDING LTD.,	Hon. Lorraine K. Chen, J.S.C.

Part 49

Defendants.

SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK, COMMERCIAL DIVISION
STIPULATION WITHDRAWING DEFENDANTS' MOTION FOR PARTIAL SUMMARY JUDGMENT WITH PREJUDICE
The undersigned counsel for the respective parties in the above-captioned action hereby stipulate and agree, pursuant to CPLR § 2104, as follows:
Calderwood & Harkness LLP, One Liberty Plaza, 50th Floor, New York, New York 10006, appears herein as attorneys for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. (collectively, "Defendants"), by and through Douglas Carmichael, Partner. Hargrove, Delacroix & Stern LLP, 600 Lexington Avenue, 28th Floor, New York, New York 10022, appears herein as attorneys for Plaintiff Northwind Maritime Corporation ("Plaintiff"), by and through Margaret Delacroix, Partner.
RECITALS
WHEREAS, on September 20, 2024, Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. filed a Motion for Partial Summary Judgment in the above-captioned action pursuant to CPLR § 3212. The motion sought partial summary judgment on two grounds: (1) the interpretation of the liquidated damages cap set forth in Clause 28 of the time charter-party dated December 3, 2020 (Charter-Party Reference No. NW-TSL-CP-2020-1203) for the vessel M/V Aegean Fortuna (IMO No. 9847231), specifically that the $4,500,000 cap constitutes a single aggregate cap applicable to the entire charter period rather than a per-incident cap as contended by Plaintiff; and (2) dismissal of Plaintiff's claim predicated upon the alleged unauthorized deviation of the M/V Aegean Fortuna to the port of Maputo, Mozambique in or about September 2022. The motion was supported by a Memorandum of Law in Support of Defendants' Motion for Partial Summary Judgment, a Statement of Undisputed Material Facts pursuant to Commercial Division Rule 19-a, the Declaration of Carlos Espinoza with exhibits, the Expert Declaration of Dr. Henrik Sørensen of Nordic Maritime Consulting Group ApS, and the Expert Declaration of Dr. Constance Albright of Clearwater Economics LLC, all filed on September 20, 2024. Oral argument on the motion was scheduled by the Court for December 6, 2024, in Part 49 of this Court, at 60 Centre Street, New York, New York 10007; and
WHEREAS, the parties, through their respective counsel, participated in a mediation conducted on October 28–29, 2024, before the Honorable Gerald K. Fitzpatrick (Ret.) of Bayside Dispute Resolution Services LLC. As a result of that mediation, the parties reached a settlement in principle on October 29, 2024, the terms of which have been fully memorialized in a Settlement Agreement and Mutual General Release dated November 20, 2024, executed by all parties to this action. In connection with the settlement, the parties have agreed to the withdrawal of all pending motions in this action, including the Defendants' Motion for Partial Summary Judgment described herein;
NOW, THEREFORE, in consideration of the foregoing, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties stipulate and agree as follows:
1. Withdrawal of Motion. Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd. hereby withdraw their Motion for Partial Summary Judgment, filed September 20, 2024, together with all supporting papers submitted in connection therewith, including but not limited to the Memorandum of Law, the Statement of Undisputed Material Facts, and the Declarations of Carlos Espinoza, Dr. Henrik Sørensen, and Dr. Constance Albright, with prejudice. The withdrawal of the Motion for Partial Summary Judgment is made with the full knowledge and consent of Plaintiff Northwind Maritime Corporation.
2. Vacatur of Hearing Date. The parties respectfully request that the Court vacate the oral argument on the Defendants' Motion for Partial Summary Judgment currently scheduled for December 6, 2024, in Part 49 of this Court, located at 60 Centre Street, New York, New York 10007, and remove the matter from the Court's calendar for that date.
3. No Prejudice to Settlement; No Admission. This stipulation is entered into solely in connection with the parties' settlement of all claims, counterclaims, cross-claims, and defenses in this action, and shall not constitute, and shall not be deemed or construed to constitute, an adjudication on the merits of any issue raised in the Defendants' Motion for Partial Summary Judgment or in Plaintiff's opposition thereto. Nothing in this stipulation shall be construed as an admission by any party regarding the merits of the motion, or regarding the merits of any defense, claim, counterclaim, or cross-claim asserted or that could have been asserted in this action.
4. Additional Filings. The parties will submit to the Court, under separate cover, a Stipulation and Order of discontinuance with Prejudice and a Stipulation and Order Retaining Jurisdiction to Enforce Settlement pursuant to CPLR § 5003-a and in accordance with the terms of the Settlement Agreement and Mutual General Release dated November 20, 2024.
5. Request for So-Ordering. The parties respectfully request that the Court so-order this stipulation.
CALDERWOOD & HARKNESS LLP
By: ________
Douglas Carmichael, Partner One Liberty Plaza, 50th Floor New York, New York 10006 Tel: (212) 555-4800 Attorneys for Defendants Thalassa Shipping & Logistics SA and Aegean Fortuna Shipholding Ltd.
Dated: November 25, 2024
HARGROVE, DELACROIX & STERN LLP
By: ________
Margaret Delacroix, Partner 600 Lexington Avenue, 28th Floor New York, New York 10022 Tel: (212) 555-7100 Attorneys for Plaintiff Northwind Maritime Corporation
Dated: November 25, 2024
SO ORDERED:
________________________________________
Hon. Lorraine K. Chen, J.S.C. Supreme Court of the State of New York New York County, Commercial Division
Dated: ___, 2024
NORTHWIND MARITIME CORPORATION,
Plaintiff,
-against- | Index No. 655421/2023
THALASSA SHIPPING & LOGISTICS SA and AEGEAN FORTUNA SHIPHOLDING LTD., | Hon. Lorraine K. Chen, J.S.C.
Part 49
Defendants.

SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK, COMMERCIAL DIVISION

RECITALS

CALDERWOOD & HARKNESS LLP

HARGROVE, DELACROIX & STERN LLP

SO ORDERED:

NORTHWIND MARITIME CORPORATION,

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Parties

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