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Shoosmiths' marine team makes £45 million headway

12 November 2007

National law firm Shoosmiths is celebrating a sizzling summer of deals by its marine team totaling more than £45-million.

£ Jonathan Hadley–Piggin, head of the firm’s marine law group, secured the string of eight “superyacht” successes in just two weeks.
Shoosmiths’ Solent office has fast-established itself as the first port of call for specialist marine law transactions and the team is now five-strong.

Jonathan and his colleagues have built a reputation as one of the most experienced teams outside of London delivering integrated solutions and combining years of experience within the leisure marine sector.

The recent wave of successes includes the sale of a 45-metre yacht in Holland - a transaction which required a dedicated Jonathan to take five flights and spend 30 hours at sea on the yacht in just five days before then selling the vessel on whilst still at sea.

Other deals included: the sale of a Canadian-owned 30-metre yacht valued at £1m for an Australian buyer; the sale of a £7.5 million 40-metre yacht to a company based in the British Virgin Islands; the sale of a £7.6 million 44-metre yacht based in the USA and Jonathan also acted for the buyer of a £450,000 Sunseeker in Monaco – all of which underpins the global nature of the team’s client base and the continued expansion in the scope of their activity.

Jonathan said: “We have had a very successful summer and the volume of high value global boat transactions has increased rapidly since our establishment. Just three weeks ago we completed a deal with French bank CGL for a £10.4 million loan needed for a Russian buyer to take delivery of a yacht in the USA, liaising with the British Virgin Islands, France and the United States before registering it in the Caymans.”

In the last year the Solent marine law team has doubled in size, an indicator of the success they have had in the market over such a short period of time.

For further information please contact:
Name: Karen Carter
Phone: 08700 864086
Email: karen.carter@shoosmiths.co.uk

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