46 U.S.C. § 31305
Waiver of lien rights
This chapter does not prevent a mortgagee or other lien holder from waiving or subordinating at any time by agreement or otherwise the lien holder’s right to a lien, the priority or, if a preferred mortgage lien, the preferred status of the lien.
Notes of Decisions
Cited in 5
cases, 1993–2012 · leading case: McAllister Towing v. Ambassador Factors, Div. Fleet Factors Corp. (In Re Topgallant Lines, Inc.), 154 B.R. 368 (S.D. Ga. 1993).
McAllister Towing v. Ambassador Factors, Div. Fleet Factors Corp. (In Re Topgallant Lines, Inc.), 154 B.R. 368 (S.D. Ga. 1993). “See 46 U.S.C. §§ 31305 , 31326, 31341, 31342, 31343.”
Newport News Shipbuilding & Dry Dock Co. v. S.S. Indep., 872 F. Supp. 262 (E.D. Va. 1994). “As explained above, however, the contract claims are in personam claims and are distinct from the in rem claim contested here, and the contractual defenses are therefore inapplicable.”
Hanson v. Fowler, 117 So. 3d 1127 (Fla. 3d DCA 2012). “With regal'd to the first issue, the court below found that Hanson’s entitlement to the first $375,000 from the sale of the vessel was a valid affirmative defense to Rose’s claim of maritime lien under a federal statute, 46 U.S.C. § 31305 , providing *1133 for subordination of…”
United States v. Ex-USS Cabot/Dedalo, 179 F. Supp. 2d 697 (S.D. Tex. 2000). “The United States Code explicitly states that its chapter on maritime liens "does not prevent a mortgagee or other lien holder from waiving or subordinating at any time by agreement or otherwise the lien *707 holder's right to a lien, the priority or, if a preferred mortgage…”
Banco de Credito Indus., S.A. v. Tesoreria Gen. de la, Seguridad Soc. de Espana, 990 F.2d 827 (5th Cir. 1993). “BCA acquired the labor credits, because they “have preferred status with respect to the mortgage credits held by [BCI]....” We agree with the district court that the January 1991 agreement was a “buy-out” of the seamen’s potential wage claims to protect the rank of the BCI…”
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