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The maritime lien is a privileged claim upon maritime property which attaches to the res from the moment a cause of action arises. It remains "inchoate" [6] until the issuing of a writ. By remaining invisible from the moment of attachment, the lien is capable of surviving a change of ownership, even by a good faith purchaser.
In a ship mortgage or ship hypothec (civil law term, covering also a maritime lien), a shipowner gives a lender (or mortgagee) a security interest in a ship as collateral for a mortgage loan. Similar to other types of mortgages , a ship mortgage legally consists of three parts: the mortgage loan, the mortgage document (deed) and the rights ...
The buyer can claim against the seller for all consequences of claims made against the vessel which have been incurred before the time of delivery. If the ship cannot settle down all the mortgages and other claims attached to the ship before the delivery, the buyer can discharge the purchase price to cover this part of the claim.
Under English law, no maritime lien, as defined by the US courts, exists on the vessel, so the ship is not subject to a Rule C arrest. Under Rule B, however, the shipyard may attach the debtor vessel, a sister vessel, or any other assets of the debtor found in the jurisdiction even if they are in the hands of a third party.
The Hague Rules of 1924 effectively codified, albeit in a diluted form, the English common law rules to protect the cargo owner against exploitation by the carrier. Nearly 50 years later, the Hague-Visby "update" made few changes, so that the newer Rules still applied only to "tackle to tackle" carriage (i.e. carriage by sea) and the container ...
[1] [2] The ship is detained by judicial process for the purpose of securing a maritime claim, or for unseaworthiness and certain other conditions. A ship may be "arrested" and detained in port by a court order in support of a maritime lien claim by creditors against the vessel. [3]