Maritime Risks and Credits: Financers and Guarantors. Should they play or should they stand behind the owner?

Maritime liens overcome the right of a creditor secured by a ship's mortgage. There have been different attempts to reduce the number of credits giving rise to a maritime lien, in order to protect financer's interests. An analysis of the evolution of this subject through the international...

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Bibliographic Details
Main Author: Guzmán Escobar, José Vicente
Format: Article
Language:English
Published: Universidad Externado de Colombia 2006
Subjects:
Online Access:http://dialnet.unirioja.es/servlet/oaiart?codigo=3623012
Source:Revista e-mercatoria, ISSN 1692-3960, Nº. 1, 2006, pags. 28-36
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Summary: Maritime liens overcome the right of a creditor secured by a ship's mortgage. There have been different attempts to reduce the number of credits giving rise to a maritime lien, in order to protect financer's interests. An analysis of the evolution of this subject through the international maritime law is made and some questions are raised about future developments. The role of Guarantors of oil pollution risks under the CLC and Fund Conventions is analyzed and questions are posted about the structure for the recovery of damages under these conventions.