In the Headlines
December 19, 2011

Rule B Still Alive and Kicking in the U.S.

Lloyd's List
While Rule B in the U.S. has been abandoned for electronic fund transfers, legal experts argue that in its new form, along with other New York-based rulings, it still has an important place in maritime law. Maritime Partner Michael Frevola insists Rule B is by no means dead and was, in fact, still a valid and useful weapon in maritime claims. "While the attachment of EFTs was no longer permissible, the industry had seen a return to old-fashioned proceedings. Rule B may still be used to attach bank accounts, sister ships, bunkers, cargo freight and security found within the jurisdiction of the court," he said.

Related News and Headlines