This is a judicial forced sale ordered by the District Court of Sogn og Fjordane. The court decision is to be carried out by the well experienced lawyer Christian Grahl-Madsen in Bergen. The lawyer has for several decades acted as a highly professional government official within this area of forced transactions, appointed by several District courts throughout Norway.
The hull will be sold through a transparent process, surveyed by the District Court of Sogn og Fjordane. This process is based on bidding. The highest bid will normally be accepted and thereafter formally and legally confirmed by the court. The takeover shall be immediate after the court’s decision based on payment of the purchase price.
The general terms for the sale is 'as is where is'. The purchaser will be given title to the hull by a deed issued by the court. Any mortgages, maritime or other liens, and all kinds of security rights attached to the ship shall be extinguished and cease to attach to the ship.
Considering the terms of sale, remaining works and the location of the hull, any bid in the area of 4-5 MEUR will be seriously considered. The District court of Sogn og Fjordane will take the final decision on which bid to be accepted.