Published on June 27, 2019
Tags: Court Approved Sale of Vessels, Judicial Sales of Vessels, private sale of vessels, Shipping
Admiralty & Maritime Litigation, Shipping sale, purchase & charterparties
Malta continues to attract vessels to its shores for court-approved sales. Following closely last year’s judicial sale of the 100 meter super yacht m.y. Indian Empress, the m.v. HHL Rio de Janeiro, a specialised heavy lift vessel, sailed into Maltese waters for her sale by private treaty. The sale was instigated by the enforcing mortgagee. Having considered the market value of the ship, the Court proceeded with its decision of the 29 May, 2019, in the proceedings in the names “J. Scerri-Diacono nomine versus m.v. HHL Rio de Janeiro”, to approve the sale.
Louis Cassar Pullicino
Published on March 1, 2016
Tags: Maritime Litigation, private sale of vessels, Ship Litigation
Admiralty & Maritime Litigation, Litigation, Arbitration & ADR, Shipping sale, purchase & charterparties
In a judgment delivered on the 18th February 2016 in the case Pacific Seaways Shipbuilding Inc vs m.v. Kay, the Civil Court, First Hall, approved a private sale of a ship in favour of a mortgagee who had enforced its rights against the ship after the shipowner had defaulted on its obligations. This decision is novel and welcome as it enables a creditor who has an executive title in accordance with Maltese Law, in this case the mortgagee, to request the Court to approve the private sale of the ship in its favour and to order that the price determined for the sale of the ship be set off against the amounts of the claim due to the same execution creditor.
Jotham Scerri-Diacono, Lara Pace
Published on December 17, 2014
Tags: private sale of vessels, Shipping, The Blankenese, The Ladybug
Admiralty & Maritime Litigation, International Transport & Sale of Goods, Ship Finance & Mortgages, Shipping Compliance, Shipping sale, purchase & charterparties
This article has ben published in the Lloyd's Maritime and Commercial Law Quarterly ( L.M.C.L.Q. 474 )