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23 Priorities

Enforcement of Maritime Claims

23 Priorities 23.1 Priority of claims implies that there is competition between interests which (i) are not only enforceable against the person creating them but are based on an interest in the asset itself, 1 and (ii) when regarded individually are valid and enforceable through the asset, i.e. they are “proprietary”. 2 Priority becomes important when the total amount of all valid proprietary claims exceeds the total value of assets available to meet them.

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