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ARTICLE · 28 JUNE 2023

Judicial sale of ships in Australia

Holding Redlich
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An overview of the process for the judicial sale of ships in Australia, using the "Yangtze Fortune" as an example.

AustraliaTransport
Nathan Cecil
Nathan Cecil
Melanie Long
Melanie Long
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The judicial sale of ships has been a hot topic in Australian maritime law recently, after the livestock carrier "Yangtze Fortune" was sold and released from arrest in March 2023. The vessel's judicial sale comes after it was abandoned off the south-west coast of Victoria, along with 30 crew members, late last year amid mounting debt. The vessel was arrested in December 2023.

Notably, the arrest and subsequent sale comes only months after the adoption by the UN General Assembly on 7 November 2022 of the United Nations Convention on the International Effects of Judicial Sales of Ships (Beijing Convention). The Beijing Convention aims to create a uniform regime for the international effects of judicial sales of ships and to protect the interests of purchasers, shipowners, and creditors by recognising clean title internationally upon acquisition.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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