Maritime Finance
The financing of vessels and marine-related equipment makes up an important part of the Equipment and Structured Finance practice. Members of the Group have many years of experience in the debt and equity financing of ocean-going cargo and passenger vessels, gambling vessels, barges, offshore rigs and platforms, dredges, containers, cargo handling equipment and related accounts receivable. Their experience covers both U.S. and foreign-flag vessels, port development projects in the U.S. and abroad, U.S. Maritime Administration Title XI financings, U.S. build and charter programs, ExIm Bank financings and cross-border structures, as well as, construction period financing of shipbuilding projects. Members of the Group have structured and documented a number of transactions to accommodate citizenship, cabotage taxation issues and have employed bareboat registry arrangements to access special trading and bunkering privileges.
Members of the Group have directed numerous ship mortgage foreclosure proceedings and asset recoveries around the world on behalf of marine lenders and container lessors and have negotiated various loan workouts and debt restructurings. The Group has also advised and represented many equipment lessors, secured and partially secured creditors and creditors committees in connection with maritime and bankruptcy law issues arising from transportation company insolvencies. The Group possesses many years of experience representing the maritime service industry, including stevedores, container lessors, marine underwriters and international oil companies, in the worldwide enforcement of maritime lien rights against ships and other marine assets.
The Group counsels and represents diverse national and international clients, including banks, equipment lessors and other financial institutions, shipowners, charterers, shipbuilders, industrial companies, defense contractors, marine design firms, commidity trading companies, cruise lines, shippers, NVOCCs, stevedores and marine terminal operators, underwriters, shipyards and oil companies. The Group also draws on the firm’s substantial legal experience in tax, securities, banking, asset-based finance, creditors’ rights, bankruptcy, labor, real estate, environmental, intellectual property and insurance law within the Firm.
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