Two expensive Russians
A ship agent in the Middle East agreed to "look after" two old Russian flag ships prior to sale. This decision cost the Club a large amount of money. Parties from the Middle East, who were owed approximately US$3,000,000, arrested the ships, and joined the ship agents into the action. A deal was eventually worked out with the creditors but the lawyer appointed by the Club to defend the ship agent was entitled to a fee equivalent to 10% of the claim and eventually agreed to discount this fee to US$125,000.