Section 47F Ranking of arrestments on sale of ship chartered by demiseF1
In any ranking process relating to the proceeds of sale of a ship (or any share in a ship), an arrestment of the ship (or share) executed before the sale by a creditor of the owner of the ship (or share) shall rank in preference over any arrestment of the ship executed on the dependence of an admiralty action against the demise charterer of the ship.
Annotations
Textual amendments
- F1
Ss. 47E-47H and preceding cross-heading inserted (1.7.2010) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 213, 227(3), Sch. 4 para. 12 (with s. 223); S.S.I. 2010/249, art. 2
Notes on Part V
Modifications
- C1
Part V extended, with modifications, by Hovercraft Act 1968 (c. 59), s. 2