Winston Partners Lead PLI’s Maritime Liens & Bankruptcy Webcast

Washington, D.C.-based partner Charlie Papavizas led Practising Law Institute’s (PLI) webcast titled “Maritime Liens and Bankruptcy” on July 13, 2015.

The world of maritime liens and maritime bankruptcies is significantly different from the “shoreside” world. Maritime liens are traditional rights in vessels and cargoes that can arise silently, without filings or notice, and can stay with a vessel wherever it goes, even after a sale. Maritime liens not only affect ongoing maritime transactions, but also have the potential to complicate the financing of vessels and the delivery of cargoes.  

The high capital and operating expenses involved in ocean shipping can lead to an increased risk of bankruptcy for vessel owners and operators, and the international nature of maritime interests can make the handling of such bankruptcies particularly challenging. The relationship between bankruptcy law and maritime law is not always a cohesive one and is still evolving, as ship owners from around the world seek to take advantage of U.S. jurisdiction and U.S. bankruptcy courts, while their vessels continue to operate in countries around the world. 

In this one-hour briefing, Mr. Papavizas discussed:

• How maritime liens arise;
• How they are extinguished and how they are enforced; and
• How the interaction between international maritime law principles and U.S. bankruptcy law affects maritime interests in practice.  

Participants of this briefing are entitled to a 35% discount on PLI’s Maritime Law Answer Book, written by the presenters.