While the New York High Court which presided over the Vanuatu Shipping Registry case ruled in favour of the Vanuatu Government on January 18, 2024, for the Vanuatu Logistics and
US District Judge George Daniels in Manhattan rejected Commerzbank's claims on all but 13 of the 100 certificates and notes it bought, and dismissed all negligence claims against Bank of New York Mellon, which had been serving as trustee, as per Reuters.
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