Interlegal facilitated vessel release in Turkey
While dealing with the issues related to vessel’s debt settlement in Turkey, especially when the situation is burdened by the arrest of the vessel, a special attention must be drawn to some peculiarities of the Turkish jurisdiction. Special regulatory acts guarantee a right of the Turkish attorneys for the remuneration of their fees. In most cases the attorneys do not wish to reach a compromise unless they are satisfied that all the due amounts are credited to bank account.
In the recent case of Interlegal the vessel was arrested in Samsun following the valid court decision and the order of Executive Office. During the work on the matter it was found out that the shipowner had paid the main indebtedness debt but the claimants’ legal costs, including the Turkish attorneys’ fees, remained unpaid. Attorneys refused to take the necessary actions upon vessel release unless the costs were fully credited to bank account. Taking into account the time required for transaction of costs in banking system, there was a probability of vessel idle stay waiting for the lifting of arrest for several holidays.
Within a single day lawyers of Interlegal and the claimants’ Turkish attorneys agreed the cash deposit. This amount should be kept at the attorneys’ office until remittance of costs to bank account. In exchange of such guarantee, the claimants’ attorneys agreed to perform legal formalities immediately. The arrest of the vessel was lifted literally a few minutes before the Executive Office had been closed for the weekend. The vessel left the Turkish waters on the same day, avoiding idle stay and related losses.