MALAYAN BANKING BERHAD v PROCEEDS OF THE SALE OF THE SHIP “TERAS BANDICOOT”

[2022] Lloyd's Rep. Plus 42

FEDERAL COURT OF AUSTRALIA

Before Justice McKerracher

Admiralty – Ship sale – Proceeds of sale – Application for default or summary judgment against proceeds – Orders for the judicial sale of the vessel made in related proceedings – Court holding proceeds of sale pending determination of priorities – Whether but for the judicial sale of the vessel the plaintiff could have commenced an action in rem – Whether plaintiff’s claim for repayment and interest under ship’s mortgage a proprietary maritime claim – Whether summary judgment or default judgment the appropriate mechanism in circumstances where owner of vessel has not filed an appearance and has evinced no intention to participate in or defend proceedings.