Mr Carlos Cerdá

Carlos Cerdá

Updates

Shipping & Transport

Maritime privileged credits under Insolvency Act
Spain | January 11 2017

The Insolvency Act is based on the principle of universality with regard to assets and liabilities. However, certain credits – including maritime privileged credits – must be separated from a bankruptcy estate, resulting in a breach of this principle. Ultimately, if a maritime privileged credit is exercised against the ship of a party undergoing bankruptcy proceedings, the creditor or owner of the credit can separate the ship from the bankruptcy estate if the liquidation of assets phase has yet to commence.

Public certification process under Maritime Navigation Act
Spain | October 14 2015

If the parties fail to settle the general average – either privately or according to the procedures set out in the Maritime Navigation Act – a notary public may be appointed, and he or she shall appoint a liquidator to present a report on the settlement. The public certification process also applies when the applicable law entitles the carrier to request the deposit and sale of goods or luggage carried in certain circumstances set out in the Maritime Navigation Act.