Taylor Wessing advises ship financing bank on recapitalisation platform for several ships
Taylor Wessing has advised a ship financing bank that is helping an issuing house to incorporate several ships from a closed fund into a new company (recapitalisation platform). The issuing house was therefore able to find a solution for its ailing shipping funds and to offer its investors new perspectives.
To reconcile the conflicting interests of investors and lenders, a finance and corporate law structure was set up.
The recapitalisation platform discharged the loans of several banks by means of a new loan from the bank that was advised by Taylor Wessing together with subsequent payments by fund investors and capital from a new investor.
Shareholders of the recapitalisation platform became, along with the issuing house, the limited partnerships who each brought in their one ship. Its investors remained shareholders of the limited partnerships, therefore having the opportunity to participate in an operationally and financially stable structure.
The Taylor Wessing team included Hamburg partners Dr Oliver Rossbach (finance/restructuring) and Dr Stephan R Göthel (corporate/restructuring) and associate Dr Felix Keinath.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
For the tax year from 6 April 2014, the standard lifetime allowance has reduced from £1.5m to £1.25m.
One of the areas highlighted last year by the Regulator was the regulation of workplace DC pension schemes.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world