LBH Mozambique Limitada v Fund Consisting of the Proceeds of the Sale of the Cargo of 4,904.78 Tons of Chromite Ore Concentrates Lately Laden on Board and Another (A16/2014)
LBH Mozambique Limitada v Fund Consisting of the Proceeds of the Sale of the Cargo of 4,904.78 Tons of Chromite Ore Concentrates Lately Laden on Board and Another (A16/2014) [2015] ZAKZDHC 32 (25 March 2015)
The court held that the claim by China Construction Bank Corporation does not qualify as a maritime claim under the Admiralty Jurisdiction Regulation Act. The bank's claim, being for banking facilities granted to Metalmin for commodity trading, is not a maritime claim in its own right and cannot be elevated to such status merely by being lodged against the fund created by the sale of arrested property. Section 1(1)(x) of the Act does not extend admiralty jurisdiction to non-maritime claims against the fund; only claims that are maritime in substance may participate in the distribution. The st…
Source excerpt
- Distribution Of Fund
- Maritime Claim Definition
- Ranking Of Claims
- Admiralty Jurisdiction
- Referee Report Confirmation