By Dave Dickinson
DJ Dickinson & Associates (South Aftrica)
dickyd(at)yebo.co.za
TARIK III
In the recent judgment of the Tarik III, the South African Supreme Court of Appeal recognised the deeming provisions of Section 1(3) of the Admiralty Jurisdiction Regulation Act 105 of 1983 which reads:
“for the purposes of an action, in rem, a charterer by demise shall be deemed to be, or to have been, the owner of the ship for the period of the charter by demise.”
Essentially this provision obliges the de facto owners of demise chartered vessels to be responsible for the debts incurred by demise charterers/disponent owners during the tenure of the charter party.
Four judges to one ruled that parties who entered into contracts with the disponent owner, were entitled to lodge claims against the Fund and be paid from the Fund arising from the sale of the vessel.
A considerable number of suppliers therefore benefited as a preferent claimant to the banks claim and drawn down on the Fund arising form the sale of the vessel.
For more information on this, members can contact Dave Dickinson via email: dickyd@yebo.co.z
