The former retail giant Bed Bath & Beyond (BBBY) continues its legal pursuit against shipping lines. The company filed for bankruptcy protection on April 23 this year. Now it's seeking payback for alleged wrongs suffered during the supply chain crisis, filing claims totalling over $31.7 million against Hong Kong's OOCL and $7.7 million against Taiwan’s Yang Ming. However, the main claim, against Switzerland’s Mediterranean Shipping Co. (MSC), stands at over $50 million, seeking doubled reparations due to alleged "willful retaliatory conduct".
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This marks the largest shipper damage claim against an ocean carrier since the supply chain crisis. The estate seeks compensation for increased shipping costs, alleged unfair charges, and lost profits. It states that MSC's failure to honour service commitments led to lost profits and higher costs to replace the shortfall in carrying cargo.
BBBY's estate demands double reparations and seeks compensation for lost profits, which, if confirmed, could significantly elevate the final claim amount, potentially exceeding $100 million.
Source: www.freightwaves.com