1-Hour Program

See Credit Details Below

Overview

The world of maritime liens and maritime bankruptcies is like no other, with rules of perfection, priority, and enforcement of rights that are significantly different from the “shoreside” world.  A failure to appreciate the differences can lead to confusion and expensive misunderstandings. 

Maritime liens are traditional rights in vessels and cargoes that can arise silently, without filings or notice, and can stay with a vessel wherever it goes, even after a sale.  Maritime liens not only affect ongoing maritime transactions, but also have the potential to complicate the financing of vessels and the delivery of cargoes.   

The high capital and operating expenses involved in ocean shipping can lead to an increased risk of bankruptcy for vessel owners and operators, and the international nature of maritime interests can make the handling of such bankruptcies particularly challenging.  The relationship between bankruptcy law and maritime law is not always a cohesive one and is still evolving, as ship owners from  around the world seek to take advantage of U.S. jurisdiction and U.S. bankruptcy courts, while their vessels continue to operate in countries around the world.  

Please join H. Allen Black and Charlie Papavizas, partners at Winston & Strawn LLP and co-authors of the 2015 edition of Maritime Law Answer Bookwhich has just been published by PLI, as they discuss: 

  • how maritime liens arise;
  • how they are extinguished and how they are enforced; and
  • how the interaction between international maritime law principles and U.S. bankruptcy law affects maritime interests in practice.   

Participants in this One-Hour Briefing will be entitled to a 35% discount off the price of PLI’s Maritime Law Answer Book.

Credit Details