The cruise ship, SeaBreeze-One, is now up for sale after a Federal Court judge approved a motion by its creditors to sell the vessel.
The ship has been under arrest in Halifax harbour since mid-September. SeaBreeze-One made headlines when its passengers were unloaded part-way through their vacation.
More than 40 creditors say the owners of the vessel owe them money. The ship will remain under arrest until they're satisfied.
Judge Andrew MacKay approved a motion to sell the ship privately rather than at auction. It was felt that a private sale would most likely fetch the best price.
The sale will also include arrangements for crew who are still on board SeaBreeze-One. About 25 crew have remained behind to maintain the ship pending its sale.
Halifax lawyer, Will Moreira, who acts for the New York bank that owns SeaBreeze-One, says brokers in Montreal and New York will get to work now selling the cruise ship. The brokers have until the end of November to make the sale.