Veröffentlicht 1997-10-11
Schlagworte
- ship arrest,
- ABC Containerline Group,
- container line collapse,
- liquidation,
- role of trustees in bankruptcy
- bankruptcy,
- the 'Cornelis Verolme',
- priority of claims,
- maritime lien,
- ship sale fund,
- writ in rem,
- warrant of arrest,
- private international law,
- comity principle,
- equal distribution,
- trans-border bankruptcy ...Mehr
Abstract
Sutton's paper was presented as part of Business Session 5, on the topic of the Role of the Trustee. In particular, Sutton examines the case Turners & Growers Exports Limited v The Ship 'Cornelis Verolme' [1997] 2 NZLR 110, which happened in the broader context of the ABC Container Line collapse. The claims against this ship far exceeded those against the Line's other vessels in both number and amount, and five admiralty proceedings were issued against it. Sutton considers the judgment and outcome of the case, especially its significance insofar as it clarifies the position of the status in New Zealand of foreign bankruptcies and the appropriateness of judicial assistance in international insolvencies, and is an example of a commercial response to the complex relationship between the strict admiralty regime and the flexible notion of judicial co-operation in international insolvencies.