Deutsche Bank Trust Company Americas v Owners of the Motor Vessel Sertao

Admiralty – Appraisement and sale. The Queen's Bench Division, Admiralty Court, allowed an application by the mortgagee, Deutsche Bank Trust Company America, for an order for sale pendente lite of a vessel, which had been used as security, in part, for a loan of US$750,000,000 from Deutsche to a Brazilian conglomerate, Grupo Schahin. The application had been made following alleged events of default on the loan.

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