In this deal, four law firms from Korea, the UK, Panama, and Norway respectively, provided legal advice, with Kim & Chang taking the role of lead counsel and actively collaborating with other law firms in reviewing the transaction structure and preparing the full set of documentation.

The parties involved in this deal wanted to register their vessels in Panama and Norway simultaneously, which called for legal advice as well as an innovative approach to sort out the best workable structures that could be implemented in the most effective manner.  There has been no recent case of a Korean shipping company registering its vessels at both Panamanian and Norwegian registries involving transfer of the registrations.  Through extensive consultation with Panamanian and Norwegian legal advisors, our firm was able to successfully navigate through the necessary steps and possible obstacles to accommodate the parties’ demand.