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Gestors Advises on the Return of Titan-2 Vessel

Gestors has acted as legal advisor to the Public Joint-Stock Company State Joint-Stock Company Chernomornaftogaz towards the return of the crane vessel Titan-2.

The Titan-2 is designed for the installation, dismantling, and service of floating drilling platforms. The vessel had been arrested by Mexican financial authorities following the bankruptcy of its charterer company and the launch of the respective investigation. The arrest of the Titan-2 vessel has now been removed by the Financial Prosecutor's Office of Mexico, with the Government of Ukraine to decide upon its future use. 

Gestors argues that this is particularly important since it represents a first instance in which an official body of a third country has formally recognized the ownership of Chernomornaftogaz over its assets following the company’s re-registration in Kyiv in 2014 as a result of the occupation of the Crimea peninsula by the Russian Federation. 

Partner Andriy Tsvyetkov led the Gestors team working on the project. The team relied on external Swedish, British, and Mexican specialists: Partner Mathias Winge of Setterwals, Solicitor Ali Has of Morgan Has Solicitors, and Attorney-at-Law Fernando Escamilla Llano from Garza Tello & Asociados respectively. 

Image Source: maritime-executive.com

Last modified onThursday, 25 February 2016 14:47
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