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The New Giant - plotting the course between Admiralty and cross border insolvency rules

Written by Alan Sherlock & Sarah Holderness on May 2nd, 2014.

Admiralty proceedings against a vessel are necessarily territorial in nature. A debtor’s vessel may sail into a certain jurisdiction and be arrested and sold for the benefit of creditors who both have Admiralty in rem claims against the vessel and actively take the required steps in the Court proceeding concerned.  Creditors not having rights of claim of that nature would miss out or only have a very low priority in respect of the proceeds of sale.  In contrast, the Insolvency (Cross-Border) Act 2006 (“Act”) is designed to facilitate the realisation of the debtor’s assets in a single jurisdiction in accordance with the pari passu principle (that is, equably, without preferring one creditor – no matter where they are located – over another).
Topics: Marine Law
 

Competing claims scuppered: A ship repairer’s priority rights following the ship’s arrest and sale

Written by Alan Sherlock on August 11th, 2012.

Alan Sherlock, Partner at Hesketh Henry, has been involved in a number of Admiralty cases, and has experienced the following recent success.
In Babcock Fitzroy Limited v The Ship “The M/V Southern Pasifika” [2012] 2 NZLR 652, the High Court ruled in favour of the plaintiff (“Babcock”), in what is now the leading New Zealand case on its particular issue.
 
Topics: Marine Law
 
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