IMO has welcomed the signing of the UN Convention on the International Effects of Judicial Sales of Ships which took place at a ceremony in Beijing, the People’s Republic of China, on 5 September.
The Beijing Convention on the Judicial Sale of Ships, as it is now known, was developed by the United Nations Commission on International Trade Law (UNCITRAL) to address the problem of bona fide new owners and those financing the purchase of vessels who, for instance, find themselves dealing with...