Lmj International Ltd. Vs. the Owners and Parties Interested in the Vessel M.V. Osm Arena - Court Judgment

Excerpt:

the court: the survey report filed by the receiver in a sealed cover is opened in court and taken on record. it is submitted by learned counsel for the owners that at present he has no instruction. so, i direct the receiver to circulate a copy of this report to the appearing parties. the receiver will also take steps to issue necessary advertisements in the print media or if he thinks necessary in the print media as well as in the electronic media for sale of this vessel by fixing a reserve price on the basis of the said report. offers may be received and processed by the receiver but he will not enter into a concluded contract for sale, for the time being. list this application once again after four weeks for further orders. leave is given to the receiver to take a copy of the original report under the supervision of the officers of the court. all costs and charges of the receiver will be borne by the petitioner. receiver and all parties concerned are to act on a signed photocopy of this order on the usual undertakings.

Judgment:

The Court: The survey report filed by the Receiver in a sealed cover is opened in Court and taken on record. It is submitted by learned Counsel for the owners that at present he has no instruction. So, I direct the Receiver to circulate a copy of this report to the appearing parties.

The Receiver will also take steps to issue necessary advertisements in the print media or if he thinks necessary in the print media as well as in the electronic media for sale of this vessel by fixing a reserve price on the basis of the said report.

Offers may be received and processed by the Receiver but he will not enter into a concluded contract for sale, for the time being. List this application once again after four weeks for further orders. Leave is given to the Receiver to take a copy of the original report under the supervision of the officers of the Court.

All costs and charges of the Receiver will be borne by the petitioner. Receiver and all parties concerned are to act on a signed photocopy of this order on the usual undertakings.