Sales deal upon mega yacht 42 meters long

In the framework of yacht practice, a client filed a request to Interlegal on representing its interests as the Buyer’s under the mega yacht sales deal, jointly with the yacht registration and insurance. Client chose the luxury yacht, 419 GRT and 42 meters long.

With regards to tax and other nuances of the deal, Interlegal experts had to draft the deal scheme, to perform due diligence of yacht, seller and broker and to check whether there are any encumbrances or shipowner’s debts against the crew, marina etc. Sales Contract was concluded under the standard MYBA proforma, widespread at the European market.

Following successful closing the deal and yacht transfer to the client, the yacht was registered under the convenient flag as a pleasure yacht, with the option to change her status as a commercial yacht, and insured at one of the European top underwriters.

Interlegal senior lawyer Kirina Riashentseva and junior lawyer Marta Sverdlykivska, under the general supervision of partner Irina Voyevodina, led the case.