Legal & Regulations

  • An introduction to the SHIPSALE 22: BIMCO’s...

    After more than two years of development in consultation with industry experts, the Baltic and International Maritime Council (BIMCO) drafting committee has now released the SHIPSALE 22, BIMCO’s own vessel sale and purchase agreement. The reported goal in introducing this agreement, was to modernise the highly popular and industry leading Norwegian Saleform 2012 (SALEFORM 2012), to make the negotiation process faster and simpler for the parties, to create a standard document that more logically follows the chronology of a vessel sale and purchase transaction, and to take into account the changes in modern practice.

  • US Supreme Court confirms that US discovery...

    Discovery processes under United States federal law allow for broad requests for documents that may be relevant to a commercial dispute. Documents include such items as e-mail and requests can require parties to provide years of correspondence. Discovery rules also provide for depositions where persons who may have information relevant to the dispute are questioned under oath.

  • WFW advises Alpha Bank & Eksfin on financing...

    Watson Farley & Williams (“WFW”) has advised Alpha Bank S.A. (“Alpha Bank”) and Export Finance Norway (“Eksfin”) on an export credit bond loan facility for the financing of three newbuilding AERO type high-speed catamaran passenger vessels built by Norway-based Brødrene Aa for Attica Next Generation Highspeed a subsidiary of Attica Holdings SA. (“Attica Group”). The total cost of the investment was €21M and was funded by Attica Group’s equity and the bond loan facility.

  • Cyprus: MPs improve rules for seafarers, training

    Parliament passed a bill that sets clearer rules for maritime courses, clarifies the calculation and proof of seafarers’ service at sea and regulates the revalidation of the certificates of captains of coastal and small passenger vessels.

  • UK lawmakers approve windfall tax on oil and gas...

    British lawmakers approved a 25% windfall tax on oil and gas producers in the British North Sea on Monday, which the government says will raise 5 billion pounds ($5.95 billion) in one year to help people struggling with soaring energy bills.

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An introduction to the SHIPSALE 22: BIMCO’s vessel sale and purchase agreement

After more than two years of development in consultation with industry experts, the Baltic and International Maritime Council (BIMCO) drafting committee has now released the SHIPSALE 22, BIMCO’s own vessel sale and purchase agreement. The reported goal in introducing this agreement, was to modernise the highly popular and industry leading Norwegian Saleform 2012 (SALEFORM 2012), to make the negotiation process faster and simpler for the parties, to create a standard document that more logically follows the chronology of a vessel sale and purchase transaction, and to take into account the changes in modern practice.

English

US Supreme Court confirms that US discovery processes are not available for private foreign arbitration proceedings

Discovery processes under United States federal law allow for broad requests for documents that may be relevant to a commercial dispute. Documents include such items as e-mail and requests can require parties to provide years of correspondence. Discovery rules also provide for depositions where persons who may have information relevant to the dispute are questioned under oath.

English

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