Rapid auction completed after bank arrest in Aruba

Rotterdam-based law firm AKD has completed the sale at auction of the container vessel Caribbean Sea in the courts of Aruba following its arrest by Rabobank for outstanding mortgage debts in excess of US$28m. The entire arrest and auction process was completed in just 20 days, underlining the reputation of the Kingdom of the Netherlands as a highly advantageous jurisdiction for those looking to arrest ships and arrange for their swift judicial auction.