NYK takes Kritikos company to court
NYK Line, a 50-percent shareholder of the parent company of Ceres Paragon Terminals in Amsterdam, said it is taking a trust owned by Christos N. Kritikos, founder and former chief executive officer of Ceres, to court.
NYK, which acquired a 50-percent share in the Amsterdam container terminal in 2002, said “a difference of opinion has arisen” between NYK and the CNK Trust owned by Kritikos regarding the financing of the future development of Ceres Paragon Terminals. “NYK has, as a last resort, approached the District Court in Amsterdam in an attempt to resolve the situation as early as possible,” it said.
The Japanese shipping group also said it remains open to any dialogue with CNK Trust and remains hopeful of coming to a mutually acceptable solution. It remains committed to the operation of the Ceres Paragon terminal.