Cofounder, Sabancı Holding
Search every verified Hacı Sabancı interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Hacı Sabancı, cofounder of Sabancı Holding, recounted a dispute from about five years ago involving a ship chartered by his company. He stated that a payment order arrived for fuel that the chartering company had taken but not paid for. Sabancı said that lawyers advised the company was obliged to pay under English law, and that failure to pay could allow the other party to detain the vessel under Panama law. Sabancı said he opposed paying, describing the demand as unjust, while his father favored payment. He noted that the ship was held in Panama for three days, and the company had to deposit collateral exceeding the original amount. Sabancı acknowledged that his father turned out to be correct, as the law required payment, and said the situation created tension.
“About five years ago a payment order arrived: the company chartering our ship had bought fuel, taken it, but not paid for it.”
“Then the lawyers intervened and said that under English law we would have to pay; depending on the ship’s registration and Panama law, if you don't pay the other party can detain the vessel.”
“I said don't pay — I thought what they were asking was unjust; my father was in favour of paying but I insisted we shouldn't.”
“They held the ship in Panama for three days and we had to deposit as collateral more than the amount we were supposed to pay.”
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