I do have a question about the demands, though, and though I don't like being a rule lawyer (avoiding posting sanctions like the plague myself) I do think it would be wise to know if a pirate can be sanctioned for making unreasonable demands or not. I understand how defining what constitutes an unreasonable demand is a bad idea, and I agree that this should be left up to the presiding Administrator's discretion, but I really do think there should be something stopping the pirate hooligans from demanding the collective worth of the trader's entire ship or something like that.
I am pretty sure admins have said that if they feel a demand is unreasonable they will sanction the player for pvp abuse or under 0.0.