Where a proceeding is instituted in any court in respect of any dispute between the owner of a sailing vessel and the tindal arising out of or incidental to their relation as such, or is instituted for the purpose of this section, the court, if having regard to all the circumstances of the case it thinks it just to do so, may rescind any contract between the owner and the tindal upon such terms as the court may think just and this power shall be in addition to any other jurisdiction which the court can exercise independently of this section.