Admiralty And Shipping - Piracy And Payment Of Ransom For Release Of Ships Under Cyprus Flag
The existence and nature of piratical attacks off Somalia, is a matter of great notoriety and has caused tremendous problems to ship-owners, cargo-owners, insurers, crew members etc.
Due to the absence of any effective government, or law enforcement in Somalia, the only realistic and effective manner of obtaining release of a vessel seized by the Somali pirates, is the negotiation and payment of a ransom.
Is the payment of ransom to Somali pirates for obtaining the release of a vessel seized, unlawful and/or contrary to public policy?
Cyprus has been an independent and sovereign republic, since 1960...
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