Izvorni znanstveni članak
https://doi.org/DOI 10.21857/m8vqrtxe69
Maritime Insolvency In an Era of Declining Multilateralism: Territoriality and International Judicial Cooperation
Warren de Waegh
Sažetak
Although the last major crisis occurred a decade ago, its shadow still looms over the shipping industry as no legislative action has been taken since to address the issues that arise in the administration of maritime insolvencies. Therefore, today, courts may well be faced with the same issues as a decade ago. Against this background, the current contribution proposes a guiding paradigm for the administration of maritime insolvencies that is both best from a normative perspective and the most feasible in the current geopolitical climate of declining multilateralism. This paradigm starts from the territorial administration of maritime security
interests following the physical location of the debtor’s ships. Existing cross-border insolvency instruments already provide for territorial exceptions in this regard, but the special nature of maritime security interests is not properly taken into account.
This has led to distinct outcomes depending on the jurisdiction, and hence legal uncertainty. A consistently territorial administration of maritime security interests would also benefit the overall administration of maritime insolvencies as it would enable intervention by insurers and the international recognition of the effects of the insolvency through the recently introduced Beijing Convention
on the Judicial Sale of Ships. Nevertheless, the territorial starting point should be complemented by international judicial cooperation to enable a coordinated response to maritime insolvencies. The recently published JIN Admiralty Guidelines can serve as a useful vehicle in this regard, thereby advancing the paradigm of cooperative territoriality in the administration of maritime insolvencies.
Ključne riječi
maritime liens; ship mortgages; cross-border insolvency; cooperative territoriality; legal pluralism
Hrčak ID:
353352
URI
Datum izdavanja:
12.11.2026.
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