Prime Paradise v Wilmington Savings Fund Society FSB and Others (SA 86 of 2021; SA 92 of 2021)
Prime Paradise v Wilmington Savings Fund Society FSB and Others (SA 86 of 2021; SA 92 of 2021) [2022] NASC 14 (26 April 2022)
The Supreme Court held that the High Court correctly exercised its wide discretion under Rule 138 to order the sale of the vessel pendente lite, as the registered owner supported the sale, the mortgagee's claim was undisputed, and Prime's opposition was based on inadmissible hearsay and unsupported allegations of fraud. The court further held that ACT Maritime LLC had standing under the loan agreement and mortgage. The order for security for preservation costs was interlocutory and, without leave to appeal, the appeal was struck from the roll.
Source excerpt
- Judicial sale of vessel
- Security for preservation costs
- Standing to sue
- Hearsay evidence
- Interlocutory appeals