Legal support by Interlegal: oil tanker sale & purchase at the cost exceeding 35 million USD

27 апреля : ru 98 en 129 апреля : ru 8 en 11 июня : ru 2 en 2 всего: 163 27.04.22

Having represented the interests of their regular client, Interlegal lawyers supported the deal upon oil tanker purchase. Due to its cost (35,825,000 USD), today it is one of the most expensive transactions with Interlegal experts involved.

In the framework of project, Interlegal law held complex work, including negotiations aimed at arrangement of transaction terms and issuing Memorandum of Agreement, drafting supplementary agreements, payment scheme development and escrow agent engagement, issuing all the documents required for successful closing the deal, as well as regular consulting the Client upon various questions arising at each stage of the project.

Due to high cost of the vessel, special attention was drawn to provisions on payment procedure and schedule, based on Escrow Service Agreement.

Case specification was that closing the deal was supposed to be held in Athens, Greece, but due to active hostilities in Ukraine and impossibility to leave the country, the parties decided to involve Interlegal Turkish Office, having facilitated closing the deal as much as quickly, safely and effectively, without any deviations from initially agreed closing amount in whole.

Due to teamwork of Interlegal offices in Odessa and Istanbul, our law team successfully represented the Buyer’s interests and supported sale & purchase transaction, having signed all the necessary documents and having finally executed vessel purchase.

Interlegal law team led the project, namely: associate attorney Mykola Kozachenko, junior lawyer Diana Mykhailova, partner Alexey Remeslo, jointly with Turkish colleagues – Mehmet Sitki Dogu, Attila Mehmet Dogu and Selin Kulturel Darendeli.

  • Protection of legal interests of the yacht owner in the case concerning violation of customs rules2022.07.29

    During the yacht operation abroad, our clients often face the need to cooperate customs authorities of the vessel call state. Customs...

    show more
  • Interlegal lawyers settled the dispute upon unpaid hire under the Time Charter2022.07.27

    Quickly, professionally and with respect for all the Client’s interests – this is how the dispute upon unpaid hire for the last validity...

    show more
  • The Client applied to Interlegal upon the problem of non-issuing Bill of Lading by the carrier2022.07.20

    The Client – large sunflower oil exporter – applied to Interlegal regarding the problem, namely rejection to issue Bill of Lading by the...

    show more
  • Charter cancellation and dispute arising at the Danube ports of Ukraine and before entering the Sulina Canal2022.06.21

    Charter cancellation and dispute arising at the Danube ports of Ukraine and before entering the Sulina Canal From the very beginning...

    show more
  • Interlegal defended the interests of the client in a dispute against an unscrupulous supplier2022.06.21

    As we stated before, Interlegal law team succeeded in defense of the Client’s interests in the International Commercial Arbitration Cour...

    show more
  • How the war affects international trade2022.05.30

    A Turkish company – one of the largest manufacturers of vegetable oils and biodiesel in Turkey – applied to Interlegal. The Client was u...

    show more
  • Legal support by Interlegal damage recovery from russia for the fired ship.2022.05.25

    New times dictate new cases. Our regular Client, whose ship was in Mariupol Sea Port, Ukraine, on February 24, 2022, applied to Interleg...

    show more
  • Tanker sale & purchase deal: legal support by Interlega2022.05.18

    With regards to the current situation in the sea transportation market, caused by hostilities in Ukraine, many shipowners are looking fo...

    show more
  • Interlegal lawyers defended the rights of a large European insurer at the Court of Appeal2022.05.18

    The client, a large German insurance company, applied to Interlegal for recovery of the reimbursement amount paid, thereby favoring the...

    show more
  • Successful appeal in favor of Interlegal client2022.05.10

    We noted before that Interlegal lawyers successfully defended rights of the large international forwarder under the dispute with Ukraini...

    show more