In order to arrest a vessel, one must obtain leave from the Court. To obtain leave, a written application is to be submitted with the Court on behalf of the arresting party. The respective island’s Court has jurisdiction over vessels within its territorial waters. It is, however, possible (and has proven to be very efficient) to apply for leave to arrest prior to the arrival of a vessel.
Documents supporting the claim are not mandatory to apply for the arrest, but should ideally be available. A well presented case with available supporting evidence increases the probability of obtaining leave for arrest.
It is common practice to request leave to arrest the vessel for the principal amount increased by 30% to secure any interest which accrues on the claim and costs and expenses of the proceedings. It is not necessary for the arresting party to issue any formal power of attorney when instructing legal counsel in connection with an arrest application.
The Court will, in its leave, determine the term within the proceedings on the merits of the case should be initiated in order to maintain the arrest. Such a term may vary from eight days to several weeks from the arrest.
Our laws allow the arrest of a vessel in in order to obtain security only. In other words, although the arresting party is obliged to commence substantive proceedings or proceedings on the merits in order to retain the arrest, such proceedings do not have to take place in the jurisdiction in which the vessel was arrested. It is common practice that although the vessel is arrested in our jurisdiction, the proceedings on the merits are conducted elsewhere (based on underlying agreement(s) between parties.
An estimate for the costs of effecting an arrest may be requested by contacting us.