16 Jul 2007
INTERNATIONAL TRANSPORTATION SERVICE INC. v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "KINGDOM CONTAINER"
- Citation
- INTERNATIONAL TRANSPORTATION SERVICE INC. v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "KINGDOM CONTAINER"
- Court
- Court of Appeal
- Case number
- CACV235/2006
The Court held that for HCO s.12B(4) 'beneficial owner' denotes legal or equitable title (the right to sell/dispose) and that Powick remained the beneficial owner of the vessels despite voluntary liquidation; further judicial sale proceeds are treated as the res so subsequent in rem writs could validly be issued against the fund. Therefore Powick's challenges to the writs failed and the appeals were dismissed.