Ship arrest in Greece
If a ship is arrested in Greece, the Greek legal framework provides for two types of seizure of the assets of the debtor. The first one is the provisional seizure (saisie-conservatoire), the purpose of which is to secure a claim. The second one is the executor seizure (saisie-execution), which is one of the first stages of the procedure for the enforcement of a title and results in the public sale of the seized assets.
Regarding vessels, Greece has ratified the International Convention for the Unification of Certain Rules Relating to the Arrest of Seagoing Ships since 10 May 1952, which was implemented in the Greek legal system by the Legislative Decree 4570/1966. Alternative ways of arresting a ship within the Greek jurisdiction can be found in the Private Maritime Law Code (fiduciary transfer of ownership, hypothecation of the ship) and Legal Decrees 3899/1958 and 2687/1953 (preferred mortgage).
Ship arrests can be ordered by one-member district court judgments that are issued after summary proceedings, which are initiated by the filling of the claimant’s petition. However if a substantive right needs to be secured, and the indebtedness of the debtor is apparent, ex-parte proceedings may be conducted…
Click on the link below to read the rest of the Stephenson Harwood briefing.
News from Stephenson Harwood
News from The Lawyer
Briefings from Stephenson Harwood
It is widely expected that the trend of NHS hospitals seeking to establish or expand their private patient units offerings will continue.
The European Commission has launched a consultation on the functioning and future of the Insurance Block Exemption Regulation (IBER).
Analysis from The Lawyer
‘Exotic’ investors and opportunities for legal work beyond M&A feature in The Lawyer’s high-level roundtable debate on south-east Europe