21 Sept 2000
CORPORATION NACIONAL DEL COBRE DE CHILE AND OTHERS v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE BARGE OR VESSEL "TUNG SHING NO.8"
- Citation
- CORPORATION NACIONAL DEL COBRE DE CHILE AND OTHERS v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE BARGE OR VESSEL "TUNG SHING NO.8"
- Court
- Court of First Instance
- Case number
- HCAJ237/1999
The court was not satisfied that the vessel was worth as low as $800,000 given conflicting expert valuations; therefore the normal admiralty procedure ordering sale by public tender was appropriate, but the court exercised its discretion to permit an alternative: if defendant pays $1.1 million into court within 7 days the order for sale will be rescinded and the vessel released.