Post on 28-Dec-2015
transcript
Questionaire
1-. The concept of judicial sales of ships
1.1 -. Is the term judicial sale or judicial sale of ship (or a similar term such as forced sale) defined in the law of your jurisdiction? If yes, please provide the definition. If not, please explain what kind of sale of ship equates to a judicial sale of ship by which all liens or charges or encumbrances attached to the ship before the sale will be extinguished?
1.2 -. For what purpose may a judicial sale of ship be initiated and conducted in your jurisdiction?
1.3 -. In what circumstances and on what conditions may a judicial sale of ship be initiated and conducted in your jurisdiction?
1.4 -. Will a judicial sale of ship in your jurisdiction necessarily be conducted by or under the control of a court?
1.5 -. Is auction the only method of judicial sale of ships in your jurisdiction? If not, please list and explain in detail all other ways, such as private treaty, which may be used for judicial sales of ships?
General DefinitionsJudicial Sale
It is a transfer of title or sale of goods which is conducted by a court order or by an official appointed by the court.
The transfer tittle to and possession of a debtor's property to another one in exchange for a price determined in proceedings that are conducted under a judgment or an order of court by an officer duly appointed and commissioned to do so.
Forced Sale
Refers to the sale of ship ordered by a court after the ship is being arrested or seized for the purpose of enforcement of a maritime lien or mortgage or hypotheque or charges of the same nature on ships.
Country Defined
Malta NO
Spain NO
China NO
Belgium NO
Italy NO
Denmark NO
United States NO
France NO
Germany NO
Norway NO
Dominican Republic NO
Brazil NO
Country Defined
South Africa NO
Argentina NO
Nigeria NO
Swedish NO
Singapore NO
Canada NO
Croacia NO
Venezuela NO
Rules of Procedure for a Judicial Sale
A set of rules which governs the procedure in which a claim either based on a maritime lien, maritime credit or maritime mortgage or hypoteque is developed ending in the transfer of title of the vessel as a result of such procedure.
Country Regulated Process
Malta YES
Spain YES
China YES
Belgium YES
Italy YES
Denmark YES
United States YES
France YES
Germany YES
Norway YES
Dominican Republic
YES
Brazil YES
Country Regulated Process
South Africa YES
Argentina YES
Nigeria YES
Swedish YES
Singapore YES
Canada YES
Croacia YES
Venezuela YES
Alternatives for initiation or cause of the sales
1-. Enforcing a judgment, award or enforcement title related to a maritime lien, mortgage or hypothec or indeed other types of credit.
Country Regulated Process
Malta YES
Spain YES
China YES
Belgium YES
Italy YES
Denmark YES
United States YES
France YES
Germany YES
Norway YES
Dominican Republic
YES
Brazil YES
Country Regulated Process
South Africa YES
Argentina YES
Nigeria YES
Swedish YES
Singapore YES
Canada YES
Croacia YES
Venezuela YES
Procedure for the sale
1-. Directly by the Court.
2-. Or where not directly by the Court by direct supervision of the same or one of its officers, such as a Marshall.
Country
Malta Court
Spain Court
China Court
Belgium Court
Italy Court
Denmark Court
United States Marshall
France Court
Germany Court
Norway Court
Dominican Republic Court
Brazil Court
Country Court
South Africa Court
Argentina Court
Nigeria Court
Swedish Court
Singapore Court
Canada Marshall
Croacia Court
Venezuela Court
Especific forms for the sale
1-. An auction or
2-. Related methods such as a private sale or through a broker but in terms and conditions that must be appropriately approved by the judicial entity under whose authority it has been imposed.
Country Option
Malta
Spain
China
Belgium
Italy
Denmark
United States
France
Germany
Norway
Dominican Republic
Brazil
Country Option
South Africa
Argentina
Nigeria
Swedish
Singapore
Canada
Croacia
Venezuela
Conclusions
1. Governed in most legislations in either the maritime or procedural legislation.
2. Governed in a way in which there is a set of rules in respect of the judicial sale but not express definition thereof.
3. Possible for the purposes of enforcing a judgment, award or enforcement title related to a maritime lien, mortgage or hypothec or indeed other types of credit.
4. Usually effected directly by the Court or where not directly by the Court by direct supervision of the same or one of its officers, such as a Marshall.
5. Normally effected through an auction but also through related methods such as a private sale or through a broker but in terms and conditions that must be appropriately approved by the judicial entity under whose authority it has been imposed.