https://www.taxtmi.com/caselaws?id=395417 The Admiralty Act prevails over the Insolvency and Bankruptcy Code in matters of maritime claims and priorities. Actions in rem are distinct from actions against the corporate debtor. No leave under Section 446(1) of the Companies Act is required for Admiralty actions in rem, as these are against the ship, an independent legal entity, even if a winding-up order has been made or the Official Liquidator appointed. Priorities for payment from the ship sale proceeds are determined under the Admiralty Act, not the Companies Act. en-us Tue, 19 May 2020 00:00:00 +0530 Thu, 21 May 2020 11:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395417 The Admiralty Act prevails over the Insolvency and Bankruptcy Code in matters of maritime claims and priorities. Actions in rem are distinct from actions against the corporate debtor. No leave under Section 446(1) of the Companies Act is required for Admiralty actions in rem, as these are against the ship, an independent legal entity, even if a winding-up order has been made or the Official Liquidator appointed. Priorities for payment from the ship sale proceeds are determined under the Admiralty Act, not the Companies Act. Case-Laws Companies Law Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395417