Law firm advises on sale of half a nation’s fleet

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Law firm HFW has recently advised Swiss shipowner Massoel Shipping SA on eight separate vessel sale transactions, representing 40% of all Swiss-flagged commercial maritime vessels.

The firm also provided completion services on each of the transactions, assisting Massoel and the purchasers with closing and the holding of deposit and balance.

HFW's team comprised Olivier Bazin, Michael Buisset, Patrick Myers, Emma Bud, Francis Walters and Johanna Ohlman, of the firm's Geneva office.

Olivier Bazin, Geneva Office Head, HFW said: "We are delighted to have supported Massoel Shipping with these strategic transactions. A number of the closings took place in the height of the Covid-19 outbreak, which required us to solve a number of logistical and legal issues with port lockdowns, restrictions on underwater inspections and crew changes, and of course virtual closing meetings. HFW looks forward to supporting the Swiss maritime fleet in its next phase of development."

HFW is a leading global law firm in the aerospace, commodities, construction, energy and resources, insurance, and shipping sectors. The firm has more than 600 lawyers, including 185 partners, based in offices across the Americas, Europe, the Middle East and Asia-Pacific.

By Jake Frith