Luxembourg-based financier PF AirFinance – a company connected with GE Capital Aviation Services – has arrested the Swiber Valiant, claiming its registered owner is in default of loan covenants, Upstream’s sister publication TradeWinds reported on Thursday.
The financier is demanding immediate payment of $17 million still owing on the vessel’s mortgage from single-vessel entity Southsea Offshore. TradeWinds cites court documents as showing that Southsea is a wholly-owned subsidiary of Swiber International.
The
