Practice Areas - Ship Purchase and Sale

March 11, 2010

SHIP PURCHASE AND SALE

Freehill Hogan & Mahar represents sellers and purchasers of vessels in domestic and international sale transactions. These services, which include related financings, cover the following:

Review and negotiation of MOA terms
Advice on suitable jurisdictions for vessel registration, taking into account fees, administrative requirements, applicable law, political situation and lender acceptability
Advice on favorable corporate domiciles
Preparation of corporate documents, including articles of incorporation, by-laws, corporate resolutions, minutes of shareholder meetings, secretarial certificates, and powers of attorney
Negotiating and drafting of financing documents, including loan agreements, ship mortgages, assignments, pledges, guarantees and miscellaneous undertakings
Preparation of Bills of Sale
Preparation of opinion letters
Attending ship sale closings
Handling post-sale disputes

Our firm maintains a close relationship with the major ship registry offices located in New York. We also have a long established network of reliable contacts in foreign countries. These relationships help us to deal efficiently with some of the problems which often arise in preparing for a ship closing.

The firm maintains an extensive form file, updated to reflect changes in the law. As a result, we are prepared to move quickly in the event the transaction involves tight deadlines.

Representative Cases