Adrift on a Sea of Red Ink: The Status of Maritime Liens in Bankruptcy

Citation data:

Fordham International Law Journal, Vol: 11, Issue: 3, Page: 573

Publication Year:
1987
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Repository URL:
http://ir.lawnet.fordham.edu/ilj/vol11/iss3/4
Author(s):
Ende, Michael J.
Publisher(s):
FLASH: The Fordham Law Archive of Scholarship and History
Tags:
International Law; Law
article description
This Note argues that a bankruptcy court should be able to sell a vessel free of maritime liens without having to refer such a sale to an admiralty court. Part I examines the historical nature of the conflict between admiralty and bankruptcy principles. Part II analyzes the dominant approach, which applies admiralty principles when the sale of a vessel is mandated. Part III argues that a better approach uses bankruptcy principles, which enable a bankruptcy court to maintain jurisdiction over vessels subject to maritime liens and to sell these vessels free of such liens. This Note concludes that the proper courseis to refer pending maritime foreclosures to, and consolidate a debtor's assets under, the jurisdiction of the bankruptcy court.