Arias, Fábrega & Fábrega represented DVB Bank America N.V., NIBC Bank N.V. and ABN AMRO Capital USA LLC, in connection with the financing made available to Ingatestone Holding Inc., a company with mayor maritime and oil operations in South America, to finance the acquisition of the platform supply vessels Up Jade, Up Amber, Up Pearl and Up Onyx, from Bharati Shipyard in India, in the aggregate principal amount of US$84 million, secured by, among other security, naval mortgages of first priority over each of these vessels and pledges over the shares in the ship owning companies of these vessels, incorporated in Panama.

The firm provided delicate and important corporate advice, including the thorough review of the Panamanian company's corporate documentation and authorities for the overall transaction.  Each company provided an extensive security package, from bareboat charter assignments, insurance and earnings assignments and shares pledges, for which we were required to assist from a corporate Panamanian law perspective.  The firm also assisted from a maritime commercial law perspective in connection with the naval mortgages, including their preliminary registrations to be made effective against third parties.  The parties have also entrusted us with completing the definitive registrations of the mortgages in Panama.