[jopsen]

The company also owes him a salary, he is in possession of company property, selling said property to recuperate lost salary seems reasonable.

I'm no lawyer (so don't try this at home), and I bet you'd need to find a good lawyer to get a with a trick like that :)

But as a creditor in possession of property owned by the debitor, selling said property to recuperate losses doesn't seem entirely unreasonable.

Certainly, not if debitor does not take action recover possession of the property, etc.

Even if he got into trouble after selling the ship, I would hope a jury would side the person being held for "ransom by said property".

But yes, between Egyptian and Syrian courts, I suppose there is a serious risk you'll get squashed either way. Because we can't have sailors selling their ships :)