25 August, 2016

Court Auction in Korea

Court Auction in Korea

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Court Auction  : 9,575 DWT '98 BLT RORO/TWEEN DECKER for sale.



Located in Incheon, Korea, where inspectable.



Minimum auction price 1,627,254,000 Korean Won (equivalent
US$1,456,546)

  Auction sale in Incheon, Korea : 1000hrs 22nd Sept 2016


MV 'Sunrise'
===============
RORO/Tweendeck
KR Class (Suspended)
1998 blt in Kwang Yang Shuipbuilding, Korea
GT on ITC 8,649
9,575 DWT
Bale / Grain : 17,036 / 19,036 cbm

M/E SsangYang, Korea 3,883 KW
(ADA/WOG)



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Bidding Procedures

    (1) 10 % Depoist Money of Minimum Auction Price to be prepared  in
a Cashier's check

    (2) If the tender is successful auction winning Notice will be
issued from the court.

    (3) If the tender is successful it will take 1 weeks for final
decision by Judge

          ,during this period the court investigated if the auction
were illegal but this procedure

          is considered to be formal.

    (4) If the fianl decision obtained The Buyers shall pay the
Balance within 3 weeks

    (5) If not awarded 10% security money in check will be returned to
Buyer immeidately on spot.



Necessary Documents

    POA ( to be legalized & to be tramslated into Korean / to be
notarized)  &  Passport



Other terms



    (1) On  ‘AS IS/ WHERE IS' basis

    (2)  Currecncy : Korean Won

    (3)  Commission of bidding price to be paid by buyers