MV 'TARIK III' Credit Europe Bank N.V. v The Fund Comprising the Proceeds of the Sale of the MV Tarik III and Others (1294/2021)
MV 'TARIK III' Credit Europe Bank N.V. v The Fund Comprising the Proceeds of the Sale of the MV Tarik III and Others (1294/2021) [2022] ZASCA 136; [2022] 4 All SA 621 (SCA) (13 October 2022)
The majority held that the appellant, as a stranger to the charterparty, failed to establish that the bareboat charter agreement had terminated prior to the judicial sale of the vessel. The direct evidence from Garanti and Caliskan, supported by conduct and registry records, indicated the charterparty remained extant at all material times. The onus to prove termination rested on the appellant, who did not discharge it. The court further held that claimants need not have arrested the vessel prior to its sale to lodge claims against the Fund under the deeming provision. The procedure for provin…
Source excerpt
- Admiralty Jurisdiction Regulation Act
- Onus Of Proof
- Judicial Sale Of Vessel
- Distribution Of Fund
- Action In Rem
- Bareboat Charter