THE "MYRTO"
[1978] 1 Lloyd's Rep. 11
COURT OF APPEAL
Before Lord Denning, M.R., Lord Justice Roskill and Lord Justice Shaw
Admiralty practice - Appraisement and sale of ship - Two mortgages on vessel executed by owners - Vessel subsequently let out under speculative charter-party - Mortgage debt not repaid - Vessel arrested - Application by mortgagees for order for appraisement and sale of vessel - Objection by owners - Application by charterers for release of vessel from arrest - Whether mortgagees' security impaired.