16 Jul 2007
INTERNATIONAL TRANSPORTATION SERVICE INC. v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "CONVENIENCE CONTAINER"
- Citation
- INTERNATIONAL TRANSPORTATION SERVICE INC. v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "CONVENIENCE CONTAINER"
- Court
- Court of Appeal
- Case number
- CACV234/2006
The Court held that for HCO s.12B(4) "beneficial owner" refers to legal or equitable title and the right to sell; Powick remained the beneficial owner despite voluntary liquidation because title remained with the company and liquidation did not create a transfer of beneficial ownership that defeated in rem jurisdiction; likewise a judicial sale pendente lite converts the res into proceeds treated as the res and does not prevent subsequent valid in rem claims against the fund. The appeal was dismissed.