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Case of the Day: Probulk Carriers v. Marvel International

The case of the day is Probulk Carriers Ltd. v. Marvel International Management and Transportation (S.D.N.Y. 2016). The underlying case was for breach of a charter party. Arbitration in London yielded an award in favor of Probulk, and the court in New York had entered a default judgment recognizing and enforcing the award and providing for damages of more than $12 million. Marvel was a Turkish firm; one of its principals was the father of Tolga Karacelik, a Turkish citizen who lived in Turkey.
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