Cap. 12 ст. 388DCourt to decide about the sale or to fix time-limit for payment.

(1) The court shall, when a demand is made for the issue of an executive warrant of arrest, establish whether it shall order the sale of the said article or fix a time-limit within which the debtor is to pay the amount due or order the said article to be returned to the owner or lessor or mortgagee.

(2) When the court orders such sale, it shall proceed according to the procedures laid down in the provisions relating to judicial sale by auction.

(3) When the court fixes a time limit within which the debtor is to pay, it shall order the executive warrant to be definitely in force until payment of the amount due is effected.

(4) When the said time limit passes without any effect the court shall, on a demand to be made by the interested party, order the sale to take place according to the provisions of sub-article (2).

(5) When a demand is made for the execution of an order pursuant to article 1526 of the Civil Code for the issue of an executive warrant of arrest of the ship for the purposes of repossession thereof, the court shall expeditiously order the operator, lessee or other occupants, including any members of their staff to return the seagoing vessels in favour of the owner or lessor or mortgagee as the case may be and, if necessary, issue such orders as are stated in article 384A.