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Sale and purchase, transactions

The firm has considerable experience in acting for the buyers and sellers of new build, second-hand and scrap vessels including rigs and other offshore assets.

We are regularly instructed to manage the drafting and documentary side of a transaction from its inception (often providing advice on the terms of the sale contract itself) to the closing and delivery of the vessel, including issues relating to vessel registration.

We have also developed experience in acting for the purchasers of vessels from sellers in administration.

Provided that we are instructed on behalf of one of the parties to the transaction, we offer an efficient, fixed-price escrow service to allow the purchase deposit (and if necessary, balance) funds to be held as required and the transaction to proceed smoothly.

We advise borrowers and lenders on all aspects of bi-lateral and syndicated lending as well as obtaining finance via alternative structures. We assist clients throughout the entire process, from evaluating their finance options and meeting with potential financiers, through to all post-completion matters. We also provide guidance on the process of restructuring the ownership of a fleet and we can advise on and manage both share and business sales as well as joint venture arrangements.

Inevitably, the process of vessel sale and purchase and/or financing can give rise to disputes and we regularly act for buyers, sellers and their underwriters in such cases. We have also guided clients through the often difficult process of a judicial sale.

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Bentleys, Stokes and Lowless, International House, 1 St Katharine's Way, London E1W 1YL - Tel: +44 (0)20 7782 0990

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