(1) The lien held by a maritime lienor lapses one year after the associated claim has arisen.
(2) The lien will not lapse should the creditor obtain the seizure of the ship due to the lien within the prescription period set out in subsection (1), provided that the ship is subsequently sold by way of compulsory enforcement before the seizure in favour of said creditor has been lifted. The same applies to the lien held by a creditor who accedes to the compulsory enforcement proceedings in order to realise their lien, and does so within the above-referenced prescription period.
(3) Any period during which a creditor is prevented by law from satisfying their claims out of the ship is not included in calculating the prescription period. Any suspension, extension, or re-commencement of the prescription period for other reasons is ruled out.