St. Anthony Seafoods Ltd. Partnership v. "F.V. Independence" (The)

In Maritime Liens, Mortgages & Priorities on (Updated )

This was an application by the plaintiff/mortgagee for possession of the defendant vessel for the purpose of selling it pursuant to s.69 of the Canada Shipping Act, 2001 (s.69 gives the mortgagee of a registered vessel a power of sale). The plaintiff alleged that there had been various breaches of a loan agreement but the Court found that there were no breaches when demand was made or when the action was commenced. The motion was dismissed. (Note: Section 69 of the Canada Shipping Act, 2001 does not require court authorization for a mortgagee to take possession. Although this formed no part of the Court’s reasons, it is something which the Court appeared to recognize at para. 8.)