Customs confiscation overrides pledgee claim to auction proceeds of a smuggling vessel, leaving the Bank without enforceable recovery.

Confiscation of a vessel under the Customs Act for use in smuggling defeated the Bank's claim as pledgee to the auction-sale proceeds. Because the auction occurred only after confiscation, the legal effect of confiscation prevailed over any pledged interest in the vessel, and the precedent relied on by the Bank was treated as inapplicable on these facts. The Customs authorities were therefore not liable to pay the sale proceeds to the Bank, and the petition failed.

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Issues: Whether the Customs authorities were liable to pay the auction-sale proceeds of a confiscated vessel to the Bank claiming a pledgee's interest in the vessel.

Analysis: The vessel had been confiscated under Section 115 of the Customs Act on the ground that it was used as a means of transport for smuggling. The auction sale took place only after confiscation, and the pledgee's claim could not override the legal effect of confiscation. The relied-upon precedent was held inapplicable on these facts.

Conclusion: The Bank had no enforceable claim to the sale proceeds against the Customs authorities, and the petition failed.

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