Securing Assets for Maritime Claims in N.Y.: Pre- and Post-Judgment

For centuries, physical assets such as ships, cargoes, bunkers, and bank accounts have been seized to satisfy maritime commerce debts, before a judgment is rendered, whenever those assets were found within the court’s jurisdiction. Since maritime transactions are oftentimes international and transitory in nature, securing assets from a defendant can be achieved by the plaintiff appealing within the court’s jurisdiction and showing that the asset, whether it be a ship or cargo, is within the jurisdiction and that the defendant is not. In those cases, the attachment is granted. In turn, the defendant must appeal to the court to have the attachment vacated. If the plaintiff prevails, the value of the seized asset is secured.