Assets of Heracles Shipping frozen as part of Dystos case
A court of first instance in Piraeus, Greece, has approved a petition
freezing the assets of Heracles Shipping Co.
The petition was filed by 30 relatives of those killed
aboard the Dystos (Greek-registry 6,197-dwt bulk carrier built in 1972,
owned and operated by Heracles Shipping).
The Dystos capsized 29 Dec., 1996, off Kimi, Evia Island, Greece,
in bad weather and sank 2 Jan., 1997.
Seventeen crewmembers and three relatives aboard were killed.
One person survived.
The ship was carrying 5,300 tons of cement
from Volos, Greece, to Piraeus.
Following six decisions by a special court,
which tentatively attributed the incident to "internal structural collapse,"
it ordered that 493 million Greek drachmas/U.S.$1.73 million of
the company's assets be frozen.
The victims' relatives had requested 6.4
billion drachmas/U.S.$22 million in damages and distress. The parent
company, AGET-Heracles, will have to deposit the amount in the form of a
letter of guarantee until a final verdict is reached.