CH Offshore Ltd v PDV Marina SA and Others (A113/2013)
CH Offshore Ltd v PDV Marina SA and Others (A113/2013) [2013] ZAKZDHC 62 (5 November 2013)
The court held that the possessory rights of PDV Marina SA in the MT Rio Caroni, arising from a bareboat charter-party, are not real rights located within the jurisdiction of the South African court and cannot be arrested as security for the applicant's claim. The rights under the charter-party are contractual and their situs is where the shipowner resides, not where the vessel is physically present. The court found that mere possession does not constitute a real right or an asset in the estate of the charterer, and the arrest of such rights does not serve the legitimate purpose of providing…
Source excerpt
- Security Arrest
- Bareboat Charter
- Possessory Rights
- Jurisdiction
- Hire Purchase
- Action In Rem