Subject of arrest replacement

Interlegal experts, acting in the Client’s interests, initiated proceedings upon enforcement of the award made by Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry. In the framework of proceedings, sea-going vessel located in Ukraine and belonging to the debtor – a foreign shipowner, was arrested as claim security.

Interlegal experts provided complex defense of claimant’s interests and, pursuant to Article 154 of the Civil Procedural Code of Ukraine, secured replacement of the arrested vessel by another debtor’s vessel also located in Ukraine. Both debtor’s vessels are sister ships. Due to actual circumstances, namely the arrested vessel repair completion and the second vessel repair, the debtor is allowed to operate the released vessel for the purpose of business activity, income receiving and debt recovery under the international arbitration award.

It is the first case of replacing the subject of arrest, i.e. sea-going vessel, in Interlegal practice and one of the few cases in court practice of Ukraine.

Natalya Myroshnychenko, the associated partner, Olena Ptashenchuk and Mikhail Selivanov, the lawyers, are working upon the case.