An international law firm applied to Interlegal upon securing the Shipowner’s and the Pledgee’s interests in case of vessel bareboat chartering, including by means of ship arrest, at four Black Sea countries – Ukraine, Turkey, Georgia and Romania.
The Shipowner concludes with the Charterer a Bareboat Charter for cooperation in Black Sea Region followed by the vessel purchase. It is a specific type of chartering which bears certain risks related to transfer of title on the vessel.
With regards to Interlegal practice and offices in all the Black Sea countries, the Client set a task to define the risk level in case of violating the Charterer’s obligations and instruments of defending the Shipowner’s and the Pledgee’s proprietary rights, taking into account specifications of governing such issues in each of 4 countries.
Interlegal offices provided accurate and capacious consulting to the Client, based on legislation and court practice of each jurisdiction. Interlegal experts analyzed the issues of vessel control by the Shipowner within the above jurisdictions, detected risks and differences in law regarding the dispute settlement jurisdictions.
Special attention was drawn to the issues of ship arrest procedure, in particular, risks and advantages in each country, including the Pledgee’s prospects in similar cases. Interlegal partners Natalya Myroshnychenko (Odessa), Mehmet Dogu (Istanbul), Valerian Imnaishvili and Paata Kopaleishvili (Georgia), Romanian representative Virgil Nita and Interlegal team of experts led the case.