ACTING FOR DEUTSCHE BANK IN A MORTGAGE FORECLOSURE AND JUDICIAL SALE OF A VESSEL IN NAMIBIA

South Africa
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The owner of the vessel had been in default of the mortgage agreement for some time and the mortgagee bank (Deutsche Bank) instructed us to foreclose on the vessel in late 2018/early 2019. This involved arresting the vessel, taking cession of certain preservation costs incurred by the Port and the Sheriff, and then bringing an application for the sale of the vessel in the Namibian High Court. We were able to obtain a final sale order within 3 months of being instructed, which is a relatively quick timeframe compared to other jurisdictions.

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