JOURNAL ARTICLE

In re Lykes Bros. and Genco Constellation Ltd. at the Helm: Classifying Bareboat Charters as True Leases or Disguised Financing Agreements.

  • Published In: Tulane Maritime Law Journal, 2026, v. 50, n. 1. P. 119 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Farris, Emma 3 of 3

Abstract

The article focuses on the classification of bareboat charters as either true leases or disguised financing agreements within maritime law, particularly through the analysis of two key cases: *In re Lykes Bros. S. S.* and *Genco Constellation Ltd. v. BG Shipping Co. Ltd.* It discusses how these cases illustrate the complexities of ownership and financing in the shipping industry, emphasizing the need for courts to consider the economic substance of transactions rather than their form. The article highlights the application of the Uniform Commercial Code (UCC) and various common law tests to determine whether a charter arrangement constitutes a true lease or a security interest, which has significant implications for ownership rights and legal proceedings in maritime contexts. [Extracted from the article]

Additional Information

  • Source:Tulane Maritime Law Journal. 2026/01, Vol. 50, Issue 1, p119
  • Document Type:Article
  • Subject Area:Law
  • Publication Date:2026
  • ISSN:1048-3748
  • Accession Number:191508144
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