Since the late Sixties, M & M has built up a significant client portfolio of international and local banks providing traditional finance to owners, in addition to other financial institutions, including financial leasing companies, rescue financing funds and other funding vehicles that provide novel financing products in the context of the ever-changing contemporary economic landscape.
As legal correspondents in Cyprus, our Firm receives instructions from a range of top international law firms based in the world’s maritime centres, each a major player in this increasingly specialised area of legal practice.
Our involvement covers the Cypriot aspects of traditional shipping loans, guarantees and indemnities, syndicated transactions, financial leases, security agent and trustee set-ups, plus other facilities granted to or involving Cypriot companies and/or Cyprus-flag vessels, in addition to the issue of legal opinions on matters of Cyprus law.
The professional services we render include drafting loan and security documentation governed by Cyprus law such as statutory mortgages and collateral deeds of covenants on Cyprus-flag vessels, pledges of shares in Cypriot companies, floating charges, charges over bank accounts and other legal instruments which provide security to the lending financial institution.
We also act for owners when obtaining financing from banks or other financial institutions in order to finance or refinance the acquisition of vessels which may be registered under Cyprus flag or other foreign flags.