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Ship & Aircraft Finance Ship & Aircraft Finance

Patrikios Pavlou & Associates LLC deals with all matters relating to the registration of aircrafts, ships and yachts under the Cypriot flag as well as all registry related transactions. The Firm represents investment banks, carterers, ship owners and managers, airlines, leasing companies, guarantors including trust certificate financings, coprorate ownerships, sales/leasebacks, securitizations, structured financings, loans and much more. Drawing on the team’s know-how in both ship and aircraft finance, the law firm is positioned to provide clients with expert advice in connection with acquisition finance, cross-border financings, leases and asset-based loans.  

Services include:

  • processing of applications for all Registry transactions in Cyprus regarding ships, small vessels, yachts etc. 
  • conducting searches on ship files kept with the Department of Merchant Shipping
  • ship and yacht registration, including bareboat and parallel registration, deletion and transfer procedures
  • provision of advice on EU matters and other matters relevant to ship registrations, such as transfer of vessel ownership, search, change of vessel name etc
  • registration of ship-owning and ship-management companies
  • registration and deletion of ship mortgages in the Cyprus Ships Registry and the Registrar of Companies

Sample of Major Cases Handled

  • Allen & Overy, London requested our assistance and legal opinion on the novation of a USD 50 million aircraft financing transaction involving two aircrafts of an international leading provider of aircraft leasing services. We advised on the Cyprus aspect of amendments to existing financings, relating to the replacement of the current guarantor and finally issued a Cyprus law opinion to a French corporate and investment bank.
  • We have been involved in the financing of a 75 metre motor yacht and provided advice to the group and the Cyprus borrower and other group companies providing collateral in the form of share pledges, ship mortgage, general assignment and other. The loan facility, amounting USD 50 million, was made available by a large Swiss Bank.
  • Advising a Russian airline company in relation to the tax consequences arising out of a financing scheme concerning the leasing of Boeing and Airbus aircrafts, involving UAE, Cypriot and Irish entities. We provided specialised tax advice in relation to transfer pricing and VAT matters and other relevant taxes.