Question

Mr. Ess, the owner of the SS Skimpy and an American citizen, borrows money from MultiBank in London to outfit his ship, giving the bank a maritime lien on the ship. Mr. Ess sells the ship to Mr. Tee, a Canadian. Mr. Tee is not aware of the lien and was not aware that Mr. Ess had defaulted on the loan. When the ship pulled into a British port, the bank arranged for the ship to be arrested (seized) and sold to pay off the balance due on the loan. Can the bank do this? What recourse does Mr. Tee have? 



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  • CreatedSeptember 19, 2013
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