Arias, Fábrega & Fábrega acted as counsel to the lender on the feasibility of establishing a mortgage while the units remained under construction. The firm reviewed construction contracts and related documentation for the purpose of devising a title transfer instrument to vessels under construction, as required under Panamanian law, and drafted a form of naval mortgage that may provide security to the lender during the construction period and after the units have been delivered to the mortgagor.