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The Red List was a list of outstanding debts owed by starship captains. It was maintained by Interstellar Collections Limited, which regularly deployed skip tracers to collect the debts. They collected either full payment or simply took the craft in question and auctioned it off.
In 2 BBY Odumin, disguised as the skip tracer Spray, tried to take possession of the Millennium Falcon, as he noted that its captain Han Solo owed a debt to an engineering company, presumably for work done on the Falcon.