Article 213. Preferential satisfaction of claims secured by the mortgage of a vessel of the Merchant Shipping Act
1. Claims for obligations, the fulfillment of which is secured by the registered mortgage of the vessel, are subject to preferential satisfaction over all other claims, with the exception of the requirements provided for in paragraph 1 of Article 203 and paragraphs 3 and 4 of Article 220.
2. No claims are subject to preferential satisfaction over claims arising from obligations secured by a registered mortgage of a vessel under construction, with the exception of the requirements provided for in paragraph 4 of Article 220 of this Law.
The Law of the Republic of Kazakhstan dated January 17, 2002 No. 284.
This Law defines the legal, organizational, economic and international foundations of public administration in the field of merchant shipping and regulates relations related to the transportation of passengers, baggage and cargo, ensuring safety in maritime transport and environmental protection.
President
Republic of Kazakhstan
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