The article expounds specifically the way to confirm differ-ent obligatory rights and to deal with the relationship among the procpdures of trying, executing, and bankruptcy in practice in the light of the characteristics of bankrupt obligatory rights of the creditor’s when the single-vessel company goes bankrupt un- der the guidance of the Bankruptcy Law and the Maritime Code of People’s Republic of China.
Studying other countries’ lien, this thesis analyses the nature of lien in Article 87 of Maritime Code of the PRC and concludes that the carrier’s lien caused by freight,G. A. contribution and other contract obligations should be the legal security, and therefore should be the same as that of the Civil Law,whereas the lien caused by demurrage, dead-freight and other contract liabilities should be the agreed lien. The former should be established and carried out on the basis of abiding by the law. The carrier should have the right to deal with the cargo and have the priority to be paid out of the proceeds of the auction sale. The later should be agreed and established in the
