Arias, Fábrega & Fábrega represented DVB Bank SE in connection with the financing made available to Atlantic Offshore S.A., a company with mayor maritime operations in South America, to finance the acquisition of an offshore support vessel in the aggregate principal amount of US$15 million, secured by, among other security, a naval mortgage of first priority over the newly acquired vessel and certain pledges over the shares in the borrower and other sister companies, incorporated in Panama.

ARIFA shipping legal team assisted in the structuring of the financing, as there were possible mayor tax risks involved with the original lender.  The financing was finally structured with DVB Bank SE.  The firm also provided delicate and important corporate advice, including the thorough review of the Panamanian company's corporate documentation and authorities for the overall transaction, to ratify and confirm certain agreements structured with the previous financing and the approval of the newly structured transaction. 

Finally, ARIFA lawyers assisted both the mortgagor and mortgagee in the preliminary registrations of the title pursuant to delivery of the vessel to the Panamanian company and simultaneously with the mortgage as security for the financing made available, which was carried out through the Panamanian Consulate in Singapore and took care of the definitive registration of the mortgage in Panama.