News / 'Wiped-out' CEVA investors win court hearing over alleged fraud next month

default_image

© Khunaspix Dreamstime.

By Alex Lennane

09/09/2015

Former creditors of CEVA Investments Ltd have alleged that its two directors, also employed by parent firm Apollo Global Management, acted fraudulently, causing the loss of their equity stake in subsidiary forwarder CEVA Group.

The creditors have won the right to a hearing in a New York bankruptcy court next month, which may bring resolution to a case which has rumbled on since April 2013, when CIL Ltd, formerly known as CEVA Investments Ltd, petitioned for liquidation in the Cayman Islands.

This ...

Comment on this article

You must be logged in to post a comment.

Topics

The CEVA story

Most read news

Volume surge and an early peak season? 'Don't celebrate too soon,' warning

Keep our news independent, by supporting The Loadstar

Shippers should check out the 'small print' in China-US tariff cuts

Spot rates on transpacific surge after news of tariff time-out

China-US trade tariff pause could drive a rebound for transpacific rates

'Cargo collision' expected as transpacific capacity tightens and rates rise

Carriers impose 'emergency operation' surcharges on Pakistan cargo

15% rebate for box ships as Suez Canal Authority woos carriers

Threat to airport operations as India revokes security clearance for handler Çelebi

IATA to downgrade air cargo growth forecast 'to something more sustainable'

MSC Antonia, a casualty of the epidemic of GPS area-denial

Amanda Jones Rasmussen returns to DHL GF as new global CCO

Maersk joins peers with emergency surcharges on Pakistan cargo

White House u-turns see freighters flying but keep logistics players on their toes

Evri gets 'Premium' boost from merger with DHL's UK ecommerce division

South America will benefit as air cargo traffic diverts from the transpacific