JUDGMENT

Ong Chee Kwan J:

Introduction

[1] The vessel "STINGRAY" (IMO No: 9505871) (now known as "BLUERAY") of the Port of Liberia ("Vessel") was arrested by the Plaintiff in this action in rem as security for the Plaintiff's claims against one Nostalgia Pacific Incorporated ("Nolstagia") pursuant to an arbitration proceeding between the parties in London.

[2] Gladys Holdings Incorporated ("Gladys"), an intervener to this action in rem, had offered an alternative security to the Plaintiff for the release of the Vessel which was not accepted by the Plaintiff.

[3] This judgment deals with the Notice of Application on 9 July 2024 ("Enclosure 47"), filed by Gladys against the Plaintiff praying for the following orders from this Court :

(a) a declaration that the Plaintiff's refusal to accept the security offered was wrongful;

(b) a declaration that the Plaintiff's refusal to accept security offered was unreasonable;

(c) damages suffered by Gladys due to the Plaintiff's refusal to accept the offers for security and or prolongation of the arrest be assessed, and paid by the Plaintiff;

(d) damages and expenses arising from the Plaintiff unreasonably insisting on an excessive quantum of security;

(