News & Events
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News
2009
- Madoff Auction Final Sales Announcement: National Liquidators Raises $2,021,000 from Auction of Bernard Madoff Yachts
November 17th, 2009 - Press Release - YachtAuctions.com - Bernie Madoff's Yachts for Auction
November 17th, 2009 - YachtAuctions.com - View Madoff Auction Website
October / November, 2009 - YachtAuctions.com - M/V Yarmouth Auction
October 1st, 2009 - VesselArrest.com - Bernard Madoff's Yacht - "Rising Tide of Boat Repos"
2009 - Sun Sentinel
2008
- MT Fase arrested
November 17th, 2008 - SeaEscape "Island Adventure" Vessel Arrested and Sold at Auction
October 16th, 2008 - Movers and Shakers - NMS Promotions
September 19th, 2008 - Lloyd's List - Judge orders seizure of SeaEscape casino ship
August 23rd, 2008 - Miami Herald - Vessel Arrests
August 2008 - MarEx
2006
- Stakes are high with Casino Royale arrest
October 30th, 2006 - Lloyd's List - Business Briefs
October 28th, 2006 - The Tampa Tribune - Casino ship arrested in Tampa
October 27th, 2006 - Tampa Bay Business Journal - Cruise ship 'arrested' in dispute over unpaid wages
October 27, 2006 - Tampa Bay Channel 10 News
2003
- Vessel Arrest and Custodianship
Fall 2003 - Benedict's Maritime Bulletin - Regal Empress to be auctioned Friday in Tampa
May 10th, 2003 - Herald Tribune
2001 and previous years
- Casino cruise line hits choppy water before setting sail
December 4th, 2001 - Sun Sentinel - Gaming ships sold in Seven Minutes
2001 - Times-Union - Seized drug boat goes up for sale
Tribune
Videos
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Bernard Madoff's Yacht 3 Videos |
Events
Past Events
| 2009 | Event | Location |
| February 22-24 | International Bar Association Corporate Counsel Conference | Paris, France |
| February 25-26 | Marine Money Ship Finance Forum | Hamburg |
| March 6 | Ship Appraisal Meet | St. Louis, MO |
| March 10-13 | Tulane Law Conference | New Orleans, LA |
| March 24-27 | Marine Money Ship Finance Forum | Hong Kong |
| April 16 | Canadian Maritime Law Association Seminar | Ottawa |
| April 22-24 | International Bar Assoc. Project Finance Conference | Washington |
| April 29 | US Maritime Law Association Conference | New York |
| May 1st | US Maritime Law Association Dinner | New York |
| May 17-19 | International Bar Assoc. Insolvency & Restructuring Conf | New York |
| June 10-12 | Shiparrested.com Conference | Cyprus |
| June 15-16 | Canadian Maritime Law Assoc. Seminar & AGM | Montreal |
| June 23 -25 | Marine Money week | New York |
| June 26-27 | Hotel Intercontinental SEALI Annual Seminar | New Orleans |
| July 13-17 | London Market | London, England |
| September 22 | Superyacht Expo | Monaco |
| September 27-30 | Maritime Cyprus Expo | Cyprus |
| October 12-15 | Marine Money Greek Ship Finance | Athens |
| October TBA | Marine Money Finance Forum | New York |
| October 28 | Fort Lauderdale Mariners seminar | Fort Lauderdale, FL |
| October 29-31 | Fort Lauderdale Boat Show | Fort Lauderdale, FL |
| November TBA | Marine Finance Forum Latin America | Miami, FL |
| December 4 | Grunt Club Seminar & Dinner | Montreal |
Sparks
G. Robert Toney, President of National Maritime Services Inc and National Liquidators hosted a wonderful dinner at Sparks steak house after the marine finance committee meetings of the Maritime Law Association in New York at the end of April.
A splendid night indeed as guests enjoyed a sit down dinner, good company and conviviality. Bob introduced other members of his organization in attendance, Peggy Bodenreider VP Maritime Capital Group, the yacht finance arm in California, Bill O’Dell NMS operations manager and Don Soutar, NMS Director, both in Fort Lauderdale. Bob also welcomed Mike Underhill from the DOJ, Tom Russell from the ports of LA and Long Beach and other dignified guests.
Bob also remembered legal and academic powerhouse John Edginton who passed recently.
Ship Arrest Conference
Paphos in Cyprus, legendary birthplace of Aphrodite. The goddess was said to emerge from the sea near the middle rock of the three in the distance. Educational travel on ship arrest matters!
Legal News/Comments
Custodia legis expenses: Custodia legis expenses “are those incurred ‘when a vessel is in the custody of the law,
having been seized by the Marshal.’
U.S. v. One (1) 254 Ft. Freighter, M/V Andoria,570 F.Supp. 413, 415 (E.D. La. 1983). “Generally, competing maritime lien claims are first ranked according to class…Once competing liens have been ranked according to class, the top priority liens will of course be paid first.” Id. at 415. Custodia legis expenses occupy the highest priority and “should be paid first out of the sale proceeds as an “expense of justice’.” Id. at 425.
* * * * * * * * * * * * * * * *
A recent decision of the Canadian courts is causing quite a stir north of the border. In the case of:
Kent Trade and Finance Inc. et al v. J.P.
Morgan Chase Bank et al [2008] FCA 399.
Necessaries men supplied bunkers to a ship in the Mediterranean and the contract included a US law clause. The ship arrived in Canada having not paid the bill. The ship was arrested. A registered mortgage holder appeared and the question was, who took priority?
Canadian law does not give a maritime lien to suppliers of necessaries, but only a statutory right in rem to arrest. The holder of a registered mortgage would take in priority.
US law does provide a maritime lien for necessaries supplied to a vessel and so if the contract exclusively includes a choice of law clause, is this enough? The Federal Court of Appeal decided yes. Canadian law will recognize the provisions of a foreign law so as to give effect to the parties’ choice. This is a departure from the traditional view that the law applied would be the law of the place of arrest. Now, there is uncertainty. Questions exist whether this decision is correct. There was one dissenting judgment, so it is possible for a distinction to be made in future cases. Such a decision is helpful to claimants who really have very little security when ships sail away beyond the seas. We will watch this developing aspect with interest and the Canadian Judiciary should be commended for their “Denningesque” approach to providing effective solutions for commercial men.
