Japanese shipping line Mitsui OSK has paid Y2.9bn to the Shanghai Maritime Court to free an ore carrier impounded in a dispute that dates back to World War II, the FT's Lucy Hornby writes.
The Shanghai Court seized the vessel last weekend after ruling that Mitsui OSK, as heir to a pre-war Japanese shipping firm, owned Y2.4bn for decades of lease payments.It is the first time a Chinese court has ordered the seizure of Japanese assets in relation to the second world war.
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