@article{ART002142062},
author={In-Yu Kim},
title={Draft International Convention on Foreign Judicial Sales of Ships and their Recognition},
journal={Journal of International Business Transactions Law},
issn={2982-5903},
year={2016},
number={16},
pages={69-93}
TY - JOUR
AU - In-Yu Kim
TI - Draft International Convention on Foreign Judicial Sales of Ships and their Recognition
JO - Journal of International Business Transactions Law
PY - 2016
VL - null
IS - 16
PB - The Institute for Legal Studies Dong-A University
SP - 69
EP - 93
SN - 2982-5903
AB - This paper is written for understanding this latest international trends and vitalizing about their discussions by introducing the contents of the Draft International Convention on Foreign Judicial Sales of Ships and their Recognition.
Effect of Judicial Sale is Subject to: (a) the Ship being physically within the jurisdiction of the State of Judicial Sale, at the time of the Judicial Sale; and (b) the Judicial Sale having been conducted in accordance with the law of the State of Judicial Sale and the provisions of this Convention, any title to and all rights and interests in the Ship existing prior to its Judicial Sale shall be extinguished and any Mortgage or Charge, except as assumed by the Purchaser, shall cease to attach to the Ship and Clean Title to the Ship shall be acquired by the Purchaser.
Subject to the provisions of Article 8, the Court of a State Party shall, on the application of a Purchaser or Subsequent Purchaser, recognize a Judicial Sale conducted in any other state for which a Certificate has been issued in accordance with Article 5, as having the effect: (a) that Clean Title has been acquired by the Purchaser and any title to and all the rights and interests in the Ship existing prior to its Judicial Sale have been extinguished; and (b) that the Ship has been sold free of any Mortgage or Charge, except as assumed by the Purchaser.
According to this Draft Convention, the issues will be absolutely improved: problems that whether the burdens in the ship disappeared or not after the judicial sale, problems about notifications to the interested person, problems about transfer of ownership of ship acquired by the judicial sale, and smooth trades of ships.
Although this Draft Convention is not the final one, it doesn’t seem to be beyond this category. By introducing the whole text of this Draft Convention, it is expected that the discussion about this field, and about consenting to be bound of this Draft Convention after this Draft Convention being the final one, will be activated.
KW - ship;judicial sale;Draft International Convention;clean title;competent authority;bareboat charter;issuance of a certificate;recognition of judicial sale
DO -
UR -
ER -
In-Yu Kim. (2016). Draft International Convention on Foreign Judicial Sales of Ships and their Recognition. Journal of International Business Transactions Law, 16, 69-93.
In-Yu Kim. 2016, "Draft International Convention on Foreign Judicial Sales of Ships and their Recognition", Journal of International Business Transactions Law, no.16, pp.69-93.
In-Yu Kim "Draft International Convention on Foreign Judicial Sales of Ships and their Recognition" Journal of International Business Transactions Law 16 pp.69-93 (2016) : 69.
In-Yu Kim. Draft International Convention on Foreign Judicial Sales of Ships and their Recognition. 2016; 16 : 69-93.
In-Yu Kim. "Draft International Convention on Foreign Judicial Sales of Ships and their Recognition" Journal of International Business Transactions Law no.16(2016) : 69-93.
In-Yu Kim. Draft International Convention on Foreign Judicial Sales of Ships and their Recognition. Journal of International Business Transactions Law, 16, 69-93.
In-Yu Kim. Draft International Convention on Foreign Judicial Sales of Ships and their Recognition. Journal of International Business Transactions Law. 2016; 16 69-93.
In-Yu Kim. Draft International Convention on Foreign Judicial Sales of Ships and their Recognition. 2016; 16 : 69-93.
In-Yu Kim. "Draft International Convention on Foreign Judicial Sales of Ships and their Recognition" Journal of International Business Transactions Law no.16(2016) : 69-93.
