Vedder Thinking | Articles Frank Nolan Analyzes Issues Affecting Purchasers of Foreclosed Vessels in the Latest Benedict on Admiralty Quarterly Bulletin
Fourth Quarter 2012
Francis X. Nolan, a Vedder Price shareholder and member of the firm’s Global Transportation Finance Team, authored the article “A Disconnect Between Title and Registry,” published in Benedict on Admiralty’s Quarterly Bulletin (Vol. 10, No. 4). Mr. Nolan’s article explores recent litigation involving vessel foreclosure sales by admiralty courts, which brings to light underappreciated risks facing the purchasers of such vessels. In the article, he opines that the free and clear title a purchaser receives from a forced vessel sale may not be enough to put the vessel’s past behind it, due to issues involving the successful deletion of the vessel’s ship registry.