Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

THE "MYRTO"

[1977] 2 Lloyd's Rep. 243

QUEEN'S BENCH DIVISION(ADMIRALTY COURT)

Before Mr. Justice Brandon

Admiralty practice - Appraisement and sale of ship - Two mortgages on vessel executed by owners - Vessel subsequently let out under speculative charter-party - Mortgage debt not repaid - Vessel arrested - Application by mortgagees for order for appraisement and sale of vessel - Objection by owners - Application by charterers for release of vessel from arrest - Whether mortgagees' security impaired.

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