The convention will be open for signature on September 5th, and a seminar on the Beijing Convention on the Judicial Sale of Ships and its impact will be held in Shanghai
On September 2nd, the seminar on "Future and Prospects - Beijing Convention on the Judicial Sale of Ships and Its Impact" jointly organized by the Shanghai Arbitration Commission and the United Nations Commission on International Trade Law was held in the lobby of the Shanghai International Arbitration Conference. Experts and scholars from the fields of shipping, arbitration, and judiciary gathered together for exchange and discussion.
On September 5th this year, the United Nations Convention on the International Effectiveness of the Judicial Sale of Ships will be opened for signature in Beijing. This convention is an important multilateral convention that was officially adopted by the 77th United Nations General Assembly in December 2022, authorizing the signing ceremony to be held in Beijing in 2023, with a focus on the international effectiveness of the judicial sale of ships. This convention is the first international maritime convention named after a city in mainland China, reflecting the high recognition of China's leading role in the formation of the convention by various countries.
On September 5th this year, the United Nations Convention on the International Effectiveness of the Judicial Sale of Ships will be opened for signature in Beijing. This convention is an important multilateral convention that was officially adopted by the 77th United Nations General Assembly in December 2022, authorizing the signing ceremony to be held in Beijing in 2023, with a focus on the international effectiveness of the judicial sale of ships. This convention is the first international maritime convention named after a city in mainland China, reflecting the high recognition of China's leading role in the formation of the convention by various countries.
On September 2nd, at the seminar venue
At the seminar, Jia Yu, the President of the Shanghai Higher People's Court, stated that the Beijing Convention on the Judicial Sale of Ships was initially proposed by the China Maritime Law Association at the International Maritime Organization in 2007 and officially adopted in 2022. After years of research and negotiation, it fully considered the legislation and judiciary of different countries and legal systems, filling the gap in the international effectiveness of the judicial sale of ships. This is the active efforts of the United Nations Commission on International Trade Law and the result of China's long-term and deep participation and promotion.
The convention responds to this situation and aims to enhance legal certainty by establishing a unified international legal system for the judicial sale of ships. The convention has established unified rules on "the effectiveness of clean property rights in judicial sales", "cancellation or registration of ships after judicial sales", and "no detention of ships after judicial sales". The basic rule is that if a judicial sale is made in a contracting state and has the effect of granting the purchaser a clean property right, it will have the same effect in all other contracting states.
Compared to the ship seizure rules, the international community's process of unifying rules in the judicial sale of ships is much slower. Sun Haihua, Deputy Director of the Shanghai Arbitration Commission, introduced that in view of the international mobility of ships, the clean property rights arising from the judicial sale of ships completed by a court of one country or under its supervision should be recognized in other contracting states. Prior international conventions have failed to effectively address this important issue involving multiple interests.
Experts attending the meeting believe that the convention provides unified rules and safeguards, which will provide legal protection for buyers of ships sold through judicial sales, safeguard the interests of shipowners and creditors, and have a positive impact on the judicial sales prices of ships.
The convention responds to this situation and aims to enhance legal certainty by establishing a unified international legal system for the judicial sale of ships. The convention has established unified rules on "the effectiveness of clean property rights in judicial sales", "cancellation or registration of ships after judicial sales", and "no detention of ships after judicial sales". The basic rule is that if a judicial sale is made in a contracting state and has the effect of granting the purchaser a clean property right, it will have the same effect in all other contracting states.
On September 2nd, the seminar on "Future and Prospects - Beijing Convention on the Judicial Sale of Ships and Its Impact" jointly organized by the Shanghai Arbitration Commission and the United Nations Commission on International Trade Law was held in the lobby of the Shanghai International Arbitration Conference.
Experts attending the meeting believe that the convention provides unified rules and safeguards, which will provide legal protection for buyers of ships sold through judicial sales, safeguard the interests of shipowners and creditors, and have a positive impact on the judicial sales prices of ships.
Liu Xiaohong, Chairman of Shanghai Arbitration Commission
At present, the construction of Shanghai International Shipping Center is at a critical juncture from "basic construction" to "comprehensive construction". The signing and entry into force of this convention will help optimize Shanghai's shipping services, provide more fair, transparent, and efficient international shipping judicial sales rules, truly benefit shipping market entities, and enhance Shanghai's position as an international shipping center.