Baltimore shipyard ownerÆs problems widen
Executives of a shipyard, formerly operating at Baltimore's Sparrows Point, owes $750,000 for ship breaking work performed by a New Jersey-based company, according to a Nov. 20 news report in The Sun of Baltimore.
The newspaper said the amount is part of a lawsuit filed in Baltimore's U.S. District Court by Clean Ventures against businessmen brothers Vincent and Timothy Barletta of Massachusetts and associates with North American Ship Recycling.
The new lawsuit against North American Ship Recycling alleges racketeering activities through 'wire fraud, unjust enrichment, civil conspiracy, aiding and abetting and breach of fiduciary duty,' The Sun reported. The amount owed to Clean Ventures could increase three-fold under the Racketeer Influenced and Corrupt Organizations Act (RICO).
North American Ship Recycling is also under investigation for abandoning two former Maritime Administration ships, the Sphinx and Hoist, which were due for scrapping by the firm.
For more information about the Sparrows Point shipyard and the MarAd ship disposal program, read the September 2006 American Shipper, pages 14-17.