Secured or financed by bottomry; mortgaged as a ship or its cargo.
From 'bottomry' (a maritime law term) plus the past participle suffix '-ed', used in nautical and legal contexts to describe vessels put up as collateral.
In maritime law, bottomry (from the ship's 'bottom' or hull) was how ship captains financed voyages—if the ship sank, the lender lost their money, making it an incredibly risky form of ancient maritime insurance.
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