Court in Malta decides that ship’s mortgage overrides foreign auction

Capt. John

A ship was arrested in Malta after a creditor obtained a Maltese court order claiming a judicial sale by auction of the ship in Jamaica was ignored. Jebmed SRL were first ranking creditors of the 22,988-tonne bulk carrier Bright Star, which at the time was called Trading Fabrizia, by virtue of a mortgage registered in Malta, where the ship was registered, in 2017. As the vessel went into financial distress while in Haiti and Jamaica, it was arrested by many creditors, such as Jebmed.

Yet,...

https://safety4sea.com/court-in-malta-decides-that-ships-mortgage-overrides-foreign-auction/

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