Maritime Counsel for Ship Mortgage Lenders

Maritime Counsel for Ship Mortgage Lenders

Richard represented various lenders, acting as maritime counsel as the lenders secured vessels as collateral on ship mortgages in the oil and gas and gaming industries. He assisted a lender in a quick close on a loan for a borrower coming out of bankruptcy. Within 10 days he had placed first-preferred ship mortgages and related security on 234 vessels registered under the flag of 5 jurisdictions, securing a $225 million USD credit facility. He also handled placing first preferred ship mortgages and related security on 57 offshore drilling vessels to secure a $200 million USD credit facility.

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