Managing Partner Ann Fenech was on Friday 28th September, invited to give a key note speech at the 2nd International Scientific Conference on Maritime Law themed “Modern Challenges of Marine Navigation”.
Dr. Fenech gave a presentation on the International recognition of Judicial Sales where she discussed this important life line to the smooth operation of international trade and the serious obstacles and difficulties encountered when buyers and their financiers purchase vessels in judicial sales only to find that certain jurisdictions do not recognise such sales. This causes great obstacles not only to the traditional maritime chain but also to the financial institutions behind such purchases. She explained how the Comite Maritime International has drafted an international convention on the international recognition of judicial sales. She also explained the Proposal of Switzerland, represented by Prof. Alex von Ziegler, to the United Nations Committee on International Trade law (UNCITRAL) recommending that it take on this project within its work programme and how the CMI represented by Stuart Hetherington and Ann Fenech at the 51st Session of UNCITRAL in New York provided the CMI perspective on the issue. It is of great satisfaction to CMI that UNCITRAL agreed to adopt this project on cross border difficulties relating to the judicial sale of ships and to add it to its working agenda.
