Court orders sale of MV Irmak

Civil Court orders the sale of Tanzania registered MV Irmak in a bid to settle outstanding debts with Malta Towage Limited.

Mr Justice Mark Chetcuti ordered the sale of motor vessel MV Irmak to Britannia Shipping Limited in a bid to settle outstanding debt the vessel's owners incurred with Malta Towage Limited.

The company claimed that MV Irmak, which is registered in Zanzibar, Tanzania, had €197,609 in outstanding debts. After various pleas to settle the payment were ignored, the company found a buyer who was interested in purchasing the vessel in its current condition.

While estimates by international vessel inspectors read that the MV Irmak was worth between €55,000 and €60,000, Britannia Shipping Limited informed the claimant they were ready to pay €57,000 for the ship.

Mr Justice Mark Chetcuti, presiding over the Civil Court ordered the sale of the ship to the interested company. The sale has to be concluded within the following three weeks.

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