Shipping loans and mortgages: enforcement issues

Introduction:
• Origins – the laws of Oleron
• Growth of the modern ship mortgage regime
• Intertwined security interests
• Ship mortgage recognition
• Ability to remove or reduce country risk issue
• Is the lender completely secured against owner insolvency?

Issues:
• Variation of liens in different jurisdictions;
• Rights of cargo owners when a ship is arrested;
• The banker’s perspective
• Is there a choice for the arresting mortgagee and how and why does it exercise that choice?

Date:27/05/2008
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