Motor yacht sale & purchase amounting to 400 thousand EUR

In January 2023, Interlegal regular client applied for legal support of the deal upon sale & purchase of its motor yacht costing nearly 400 thousand EUR. 

Yacht selling procedure lasted for almost one year. As per the Client’s instructions, Interlegal yachting lawyers got engaged in the deal at the stage of preliminary negotiations with potential buyers. However the yacht owner just recently achieved final agreements with one of potential buyers. 

In the framework of project, lawyers held due diligence of the Sale & Purchase Agreement, made the necessary amendments and drafted the closing documents on behalf of the Seller. Case specification was that the Buyer acted as Attorney-in-fact on behalf of our Client’s partner; therefore, due diligence of the Buyer was not entrusted to our lawyers. 

One more specification was the need to provide detailed and justified recommendations by lawyers providing legal support for the Buyer concerning mandatory maritime documents for the sale, namely Bill of Sale, its legal nature and designated purpose. 

It should be noted that yacht relations are, first of all, maritime legal relations; therefore, proper legal support in the process of yacht sale, purchase and operation can be provided solely by maritime lawyers. 

Interlegal lawyer Mariia Ktrichian  managed by senior associate Valeriia Fetysenko led the case.