Cap. 12 Art. 864Order for the sale of a ship or vessel pendente lite.

The court may order the sale of an arrested ship or vessel pendente lite if it appears to the court upon the application of a creditor that the debtor is insolvent or otherwise unlikely to be able to continue trading and maintaining the asset. In reaching its conclusion the court shall consider all the circumstances connected therewith, including the nature of the plaintiff’s claim, the defence raised against such claim, if any, and such other steps which the debtor has taken to secure the claim, or otherwise to preserve the asset.