Bright-Star

The case was causing consternation in the international financial world because it seems that what happened has never happened before, with reference to the circumstances surrounding the auction in Jamaica and the previous behaviour of the Jamaican Supreme Court against uncontested rights of a First priority Mortgage may lead to important maritime fraud in the future

In order to obtain that money, Malta’s First Hall of the Civil Court, which deals with commercial matters, ruled in favour of Jebmed’s request, and to release the Vessel the EURO equivalent of US$900.000 was paid by Kargo Carriers SA Liberia as agent to Bluefin Marine Ltd in the Maltese court. Following a subsequent appeal by Bluefin, Malta’s Superior Court of Appeal, on 8 February 2019 ruled definitely that the arrest of the vessel was valid, as Jamaica had not recognised the effects of the mortgage on the ship and the rights of the creditor and in particular first ever seen Jamaica court paid out before any creditors Usd 2 million in favour of the debtors Capitalease and more money later