Panama signed the United Nations Convention on the International Effects of Judicial Sales of Ships at the United Nations Headquarters in New York on 4 March 2025.
According to the UN statement, Panama is the 32nd signatory to the treaty, joining Antigua and Barbuda, Belgium, Burkina Faso, China, Comoros, Côte d’Ivoire, Croatia, Cyprus, the Dominican Republic, Ecuador, El Salvador, Gabon, Ghana, Grenada, Honduras, Italy, Kiribati, Liberia, Libya, Luxembourg, Malta, Sao Tome and Principe, Saudi Arabia, Senegal, Sierra Leone, Singapore, Spain, Switzerland, Syria, the United Republic of Tanzania and the European Union. El Salvador became the first State party to the Convention on 23 May 2024.
The Convention was prepared by UNCITRAL and adopted by the United Nations General Assembly on 7 December 2022. The Convention establishes a harmonized regime for giving international effect to judicial sales, while preserving domestic law governing the procedure of judicial sales and the circumstances in which judicial sales confer clean title.
