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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.
Attachment is not dependent, as is arrest in rem, on the existence of a maritime lien or preferred mortgage lien, but necessitates merely an in personam claim against the defendant which falls within U.S. admiralty jurisdiction. [4] It does not require the applicant to show that the attachment is necessary to satisfy a potential judgment. [10]
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 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]
The term comes from the old French libel, libelle, libeau, corresponding to French: libelle, from Latin: libellus, diminutive of Latin: liber, book, inner bark of a tree.. The name was borrowed from the Roman law where a pleading known as the libellus conventionis was employed to commence an acti