On the 19th of June, Malta, together with six other countries
signed the
United Nations (UN) Convention on the International Effects of
Judicial Sales of Ships (the “Beijing Convention on the
Judicial Sale of Ships”), making Malta the 20th
State to sign this Convention.
The Beijing Convention creates a unified framework for
recognising judicial sales internationally while maintaining
domestic laws on the procedures and conditions under which judicial
sales confer clean title.
The Convention aims to enhance legal certainty regarding the
title a purchaser acquires for a ship navigating internationally.
This legal clarity is intended to increase the ship's market
value and the proceeds available for distribution among creditors,
thereby promoting international trade.
