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Last updateThu, 19 Jul 2018 12am







    Tuesday, July 17, 2018-11:20:59P.M.






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Former MV Luta custodian says it has been fully paid by investor

MV Luta investor Takahisa Yamamoto has made a payment to the former court-appointed vessel custodian, National Maritime Services or NMS, according to a federal court disclosure on Wednesday.

Contempt proceedings had been filed against Yamamoto following his non-payment of the court-ordered settlement.

NMS, through its lawyer Sean E. Frink, had asked the District Court to order Yamamoto to explain why he should not be held in contempt and more sanctions instituted.

On Wednesday, Frink filed a notice of withdrawal of motion for reinstitution of contempt proceedings against Yamamoto.

He said Yamamoto paid NMS a liquidated amount that would resolve all amounts owed to the former vessel custodian.

NMS has been paid in full for its vessel custodian services, he added.

Frink also requested the court to vacate the hearing and any other dates related to his earlier motion.

The lawyer likewise gave notice that Yamamoto’s Oct. 23 deposition will no longer proceed.

NMS earlier told the court that Yamamoto made only one $30,000 payment after he and NMS settled in court.

On March 15, 2017 Yamamoto paid only a total of $40,000 rather than the $150,000 that he had agreed to, NMS said, adding that $112,994 was past due and should have been paid by Yamamoto by Aug. 31, 2017.