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ARREST OF SHIPS : GATEWAY TO A SUCCESSFUL CLAIM
( Hoda Asgarian ) 고려대학교 법학연구원 2022 The Asian Business Lawyer Vol.29 No.-
When claiming against someone, the main concern is whether the claim can be secured and paid. It is the same in the field of the marine industry. In the marine industry, it is important to secure the claimant’s claims. One way to fulfill this is to arrest the ship, which enables the claimants to successfully reap the benefit of a claim. When an arrest warrant is issued, the vessel is detained to secure the maritime claim. There is always the question of jurisdiction and some countries are more favorable to the arrest than the others. Besides, as the ship is used for commercial usage, the unlawful detention may cause substantial financial loss to the owner; hence the claimant must be aware of the drawbacks, as he will be the one responsible for the impairment. Moreover, if the claimant agrees to the ship's release (either the shipowner secures the claim in other ways or agrees upon other terms) or the court decides so, the vessel remains under arrest. There are many issues raised by the arrest of the ship, and this essay will review the salient ones.
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