Ship sale and purchase
Experienced in acting for both sellers and buyers of commercial
vessels, yachts, super yachts and pleasure craft, lending banks, at
Weightmans we ensure that the vessel sale and purchase process is
as straightforward as possible.
Our experienced and professional team can help
you with:
- The handling and negotiation of commercial
sale documents, including new build contracts (see shipbuilding and
repair) and second-hand sale contracts
- Bespoke vessel sale contracts and associated
transactional documentation, including novation of existing charter
arrangements
- Advice in relation to standard sale forms and
MOAs as well as the identification of any key issues and pitfalls
attached to such documentation.
- Dealing with UK and international ship
registries and their requirements with regard to ownership
registration, deletion/registration of mortgages and mortgagee
priority.
Of course vessel sale and purchase often
requires loan finance and as such we can also help you with the
drafting and negotiation of marine mortgages, deeds of covenant and
release, and any related documentation.
Our experience in this area is complemented by
our unique claims expertise, and where any disputes over vessel
sales do arise (such as structural defects, warranty repairs,
ownership, payment default or breach of maintenance covenants) we
help our clients through the arbitration, court and mediation
process as smoothly as possible.
Our Marine
team is contactable 24/7 for urgent advice and assistance
following any maritime incident.
"Mike Burns of Weightmans is commended for his work in sale and
purchase transactions."
Chambers Legal Directory
2010
