Default and liquidation
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
Upon default under the terms of any Note, Financing Documents, Mortgage, Guarantee, or other security document, MARAD will take remedial actions including, but not limited to, where appropriate, seizure or arrest of collateral, foreclosure, restructuring, debarment, referral for debt collection, or liquidation to protect the interest of the United States.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.