Originally Posted by MarkJ
Finders Keepers, Losers Weepers.
I am a cruiser and if someone else needs help I give it freely to the fullest extent safety
allows. But, by jingo, by crikey, I have heard stories that show not all cruisers and people of the sea can be regarded above gutter scum.
When a cruiser loses his boat
it can be that persons total assets. Even a dinghy
gone adrift can destroy some budget
The cost of Admiralty Court would be more than the value of my boat
Keep in mind that the way it works most of the time is that the insurance
company places a bond with the salvagor for the release of the vessel. So the owner gets his boat back pretty quickly, then the insurance
company and the salvagor hammer out the final payment months or years later. Salvagor do not want to maintain posession of the vessel because they become liable for damages and upkeep while it is in their care.