Bed Bath & Beyond's $316M Claim Against MSC
Following multimillion-dollar filings against shipping lines OOCL and Yan Ming, the bankrupted BBBY now targets giant MSC.
In a bold legal move, Bed Bath & Beyond's bankruptcy estate files a heavy $316 million claim against Mediterranean Shipping Co. (MSC), the world's largest ocean carrier, alleging significant damages and seeking double due to purportedly willful misconduct.
- Contract Shortfalls: Citing an under-delivery of 1,686.5 FEUs, BBBY claims replacement costs exceeded $7.2 million beyond the contract rates.
- Lost Profits: An "astronomical" $112.8 million in profits were allegedly lost due to MSC's service shortfall.
BBBY accuses MSC of coercing extracontractual surcharges, leading to overpayment, and unjust detention and demurrage charges amid unavoidable port congestion. MSC refutes all allegations, setting the stage for a landmark shipping law dispute. This lawsuit could redefine carrier-shipper dynamics and ripple through the logistics industry.