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Monday, November 16th, 2015
The Supreme Court of Panama has ruled that it is constitutional to register ship mortgages in English.
According to the Panama Maritime Authority (AMP), registering naval mortgages in Spanish (the official language of Panama) as well as incorporating the original documents in English will provide greater reliability and efficiency in the registration of ownership of ships.
The AMP reports that financial institutions can now view the original mortgage-related documents on their website.