RCT Files Suit in the Republic of the Marshall Islands to Recover $74 Million Fraudulently Transferred from Ocean Rig UDW, Inc.

On August 31, 2017, RCT filed a lawsuit in the Marshall Islands on behalf of affiliates of Highland Capital Management, L.P. against George Economou, his nephew, Antonios Kandylidis, and a number of entities controlled by Economou – DryShips Inc., Ocean Rig Investments, Inc., TMS Offshore Services Ltd., Sifnos Shareholders, Inc., and Agon Shipping Inc. As alleged in the complaint, Economou and the other defendants received over a $100 million in fraudulent transfers from Ocean Rig UDW, Inc. The suit seeks to claw back $74 million of those transfers.

Prior results do not guarantee a similar outcome.