In our latter two articles we look at the steps a party can take when its counter-party is in financial difficulty. The first article focuses on the CLIPPER MONARCH, in which time charterers who had not been paid freight and demurrage sought to exercise their rights to lien and sell the cargo, and then to have the proceeds of sale released to them. Our final article provides an overview of the various practical measures that an owner can take if his time charterer stops paying hire.
Should you require any further information or assistance with any of the issues dealt with here, please do not hesitate to contact any of the contributors to this bulletin, or your usual contact at HFW.
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