Admiralty Proceeding

AAA

DEFINITION of 'Admiralty Proceeding'

Any matter that comes before an admiralty court that involves shipping or a shipping vessel. Admiralty law (also known as maritime law) governs all private legal matters involving events happening in the seas or in bodies of water that have multiple national jurisdictions.

INVESTOPEDIA EXPLAINS 'Admiralty Proceeding'

In the United States, admiralty proceedings are handled by the U.S. federal district courts, but there may be state court issues involved with admiralty matters occurring within U.S. boundaries. In other countries, such as the United Kingdom and Singapore, admiralty courts are a separate venue and jurisdiction from other courts. Much of admiralty law is grounded in English statutes and other conventions that have evolved over hundreds of years since the advent of shipping commerce. As an example, passengers of the Titanic bringing civil claims against the ship were heard in an admiralty proceeding.

RELATED TERMS
  1. Admiralty Court

    Any court governed by admiralty law, whether the court is officially ...
  2. Maritime Law

    A body of laws, conventions and treaties that governs international ...
  3. Admiralty Liability

    A risk, event or conduct that would run afoul of admiralty (maritime) ...
  4. Barratry

    An illegal act whereby an attorney instigates a dispute or otherwise ...
  5. LIBOR

    LIBOR or ICE LIBOR (previously BBA LIBOR) is a benchmark rate ...
  6. Global Recession

    An extended period of economic decline around the world. The ...
Related Articles
  1. Inventory Valuation For Investors: FIFO ...
    Fundamental Analysis

    Inventory Valuation For Investors: FIFO ...

  2. What Is International Trade?
    Personal Finance

    What Is International Trade?

  3. Globalization: Progress Or Profiteering?
    Economics

    Globalization: Progress Or Profiteering?

  4. Ebola's Economic Impacts on Liberia, ...
    Economics

    Ebola's Economic Impacts on Liberia, ...

comments powered by Disqus
Hot Definitions
  1. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  2. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  3. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  4. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  5. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
  6. Earnings Before Interest After Taxes - EBIAT

    A financial measure that is an indicator of a company's operating performance. EBIAT, which is equivalent to after-tax EBIT ...
Trading Center