NewLead Holdings no intention to abandon M/V Newlead Castellano

NewLead Holdings 1990 built 135K DWT small capesize bulk carrier M/V NewLead Castellano was arrested off Savannah USA in April 2016. No detentions found and no crew wage complaints on M/V NewLead Castellano. USA based Ray is trying to recover $1.6m it claims is due on $6m in convertible promissory notes that it took in 2013 from Tiger Capital. NewLead Holdings is putting up $7m in security to release M/V NewLead Castellano.