Maritime Collection And Foreclosure
Ship mortgage lenders have a number of rights under the Ship Mortgage Act of 1920. This includes having the primary right of foreclosure over other creditors when mortgage payments are not made.
The attorneys at Brodsky Micklow Bull & Weiss LLP, have long represented the major boatyards in San Diego and along the Southern California coastal waters in maritime commercial actions. We also have a history of providing representation for international marine insurers. With over 100 years of combined experience in this area of law, our lawyers understand the processes for vessel arrest and attachment in such actions. We can also advise you regarding the best maritime collection and foreclosure strategy to pursue.
The Complex Nature Of Ship Mortgages And Ship Mortgage Liens
Ship mortgage filings are extremely lengthy legal documents with language that is difficult to understand. As the laws concerning such mortgages are not precise, placing a mortgage lien upon a ship can be an extremely challenging process.
In the event of a loan default, we understand the rights of boatyards and mortgage holders to take possession of vessels through the mortgage lien process. We also understand the actions to take to quickly resolve such matters. Our attorneys fight to protect the rights of mortgage holders in the event of a sale of the vessel, and the rights to retain possession of the proceeds of such sales.
Why You Need An Experienced Lawyer In Maritime Collection Cases
Maritime or admiralty laws are unique. Because maritime law also involves questions of federal jurisdiction and international law, experience, training and specific education in this area are essential in order for an attorney to competently represent clients. This is especially true when it comes to maritime collection and foreclosure matters.
Brodsky Micklow Bull & Weiss LLP‘s reputation comes from our ability to provide quality representation to maritime clients. We represent a wide variety of clientele regarding every aspect of this practice. This helps us anticipate the approach that lawyers for the other side will pursue. As we are good at what we do, we have the luxury of representing a wide variety of clientele in collection matters.