Successful Rule B Attachment

A ship agent in Egypt received a distress call from an owner, stating that his ship had lost power and needed to be towed into harbour. The Egyptian navy had to provide the rescue service. In order for the navy to assist the stricken ship, the agent was forced to sign documents agreeing to be responsible for its fees. As the agent had no choice, he signed the documents. The navy proceeded to the last reported location of the stricken ship, but it was nowhere to be seen. Eventually, the agent made contact and learned that the ship had managed to start the engines, and, on that basis, it had sailed. The agent was advised that there were outstanding fees owed to the Egyptian navy, but the owner refused to pay them. The agent attempted to obtain payment but without success. ITIC looked at the possibility of arresting the ship, but, unfortunately, it did not trade in any favourable arrest jurisdictions. Therefore, the Club attempted a Rule B attachment against the owners in New York. Within a relatively short time, ITIC had managed to attach roughly half of the outstanding debt (around USD25,000). It was then discovered that the owners were on the verge of bankruptcy, and on that basis, the sum attached was reluctantly accepted in full and final settlement.

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