DEPTH OF FOCUS
We normally advise our clients to check the opponent’s financial status before taking final decision as to initialing litigation or arbitration. If the opponent is not a shell company but there is a suspicion that the latter will take advantage of lengthy procedures by means of getting rid of his property before a final judgment/award is given, interim measures should be requested and imposed.
When someone not out of shipping industry hears “ship arrest”, he thinks of armed men taking control over a ship. When someone out of shipping industry hears “ship arrest”, he thinks of lawyer drafting and filing petition for a ship arrest, which is the most recognized interim measure in the industry.