Freehill Hogan & Mahar represents sellers and purchasers of vessels in domestic and international sale transactions. Our experience extends to all types of cargo vessels, passenger vessels, yachts, tugs and special purpose vessels. Our services, which include related financings, cover the following:
- Negotiation and review of MOA’s
- 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
- Advice on suitable legal entity form
- Preparation of corporate documents, including articles of incorporation,by-laws, minutes of shareholder meetings, operating agreements, member consents, secretarial certificates, powers of attorney, etc.
- Negotiating and drafting financing documents, including loan agreements, ship mortgages, assignments, pledges, security agreements, guarantees, undertakings, etc.
- 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 foreign ship registry offices located in New York and with the U.S. National Vessel Documentation Center. We also have a well-established network of reliable contacts in foreign countries to assist in coordinating cross-border closings.
Our aim on any vessel transaction is to complete the deal efficiently and on schedule. However, should a problem arise, we have most likely seen it before and will be in a position to provide expert practical guidance for a solution. If litigation becomes necessary, we have a thorough understanding of the process, usually arbitration, and have successfully handled some of the leading ship sale arbitrations in New York.