United Nations Convention on the International Effects of Judicial Sales of Ships

Parliament consented to the EU concluding the UN Convention on the International Effects of Judicial Sales of Ships, which harmonises the legal effects of court-ordered ship sales across countries.§1: source passage in the text The Convention ensures that a judicial sale conferring full title is recognised in all contracting states, requiring deregistration or transfer of the ship's registration and prohibiting seizure for pre-existing claims.§2: source passage in the text The rapporteur raised concerns about national sovereignty, creditor protection, and potential regulation shopping, suggesting possible safeguards such as exceptions for public interest and review mechanisms.§2: source passage in the text