Tatiana has brought enforcement proceedings in the Marshall Islands, which is the Luna’s flag state (and therefore the relevant jurisdiction for determining her ownership) seeking to enforce the order.
On 8 August 2018, Tatiana obtained a preliminary injunction in the Republic of the Marshall Islands, preventing Straight Establishment or its agent or representatives from “disposing of, selling, transferring, encumbering, removing, paying over, conveying or otherwise interfering with the vessel M/Y Luna… wherever located, during the pendency of this action”.
On 17 September 2019, Tatiana obtained an order of the Marshall Islands High Court granting recognition of the Financial Remedy Order. Pursuant to this judgment, Tatiana was recognised by the Marshall Islands as entitled to enforce her claim against the Luna in the sum of $170 million plus pre- and post-judgment interest. An appeal against this by Straight to the Marshall Islands Supreme Court is pending.
On 8 December 2020, Straight was ordered by the Marshall Islands High Court to pay a bond to stay execution of the recognition judgment. On 18 January 2021, the Marshall Island Supreme Court ordered that in order to stay execution Straight must post a bond of US$250,000,000 (being the present value of the money judgment entered by the Marshall Islands High Court). Straight has since failed to comply with this order.
Accordingly, Tatiana has sought a “turnover order” from the Marshall Islands High Court, requiring that the Marshall Islands Maritime Registry transfer title of the Luna to Tatiana and re-register it in her name (or the name of her nominee). Straight opposes the motion, which is presently awaiting determination.
As a result of recent events in Dubai (by which Farkhad has obtained an arrest of the Luna based on a judgment obtained against his alter ego / nominee, Straight Establishment), Tatiana has also filed a motion asking the Marshall Islands High Court to appoint a receiver over Straight Establishment. Straight opposes the motion, which is presently awaiting determination.