LIBERIAN-FLAG FEUD REPORTEDLY SETTLED
The bitter dispute over who will run the Liberian-flag shipping register
appears to be nearing an end.
"An agreement has been reached between IRI (International Registries
Inc.) and the Liberia International Ship and Corporate Registry (LISCR),"
Gerald Cooper, Liberia’s deputy commissioner of maritime affairs, told
Reuters in London. LISCR is the rival entity set up by Liberia last
December to take over the shipping register from IRI on Jan. 1.
"The principals of LISCR are in Liberia to get government concurrence
with the terms and conditions of the settlement which LISCR has signed with
IRI," Cooper said.
A senior executive in IRI’s New York office would not comment on
A settlement would likely terminate the seven lawsuits currrently
cross-filed by LISCR, IRI, and Liberia. The suits are on hold as part of a
legal truce that has been extended until May 10.