By NEIL HARTNELL

Tribune Business
Editor

A BAHAMIAN shipping company has recovered its vessel from US custody after agreeing to pay $75,000 to the Palm Beach Steamship Agency to settle an alleged unpaid debt.

Dean's Shipping Company regained possession of its M/V Legend II vessel last Thursday, with the US District Court for southern Florida dismissing the case brought against it by the Steamship Agency. An intervening lawsuit brought by Caterpillar Financial Services, which alleged that Dean's Shipping had breached the terms of a $2.67 million loan by allowing the M/V Legend II to be seized and have a lien placed over it, was also dismissed.

A March 16, 2011, court order obtained ...

Click here to read more at The Tribune