In order to guarantee the amounts due under facility agreements and swap arrangements, as well as the performance of call options in respect of ship finance transactions, and all types of payment and performance obligations involving newbuildings and also second-hand vessels, we establish both construction and permanent ship mortgages over hulls and vessels registered with the Spanish registries.

In so doing, we draft the relevant public deeds, take actions to execute the documents before the relevant notary on the closing date, make arrangements before the tax authorities and file the ship mortgages with the relevant trade and ship registries, avoiding the lapse of any time from the date of execution in order to fully protect the mortgagor’s interests. Please note that registration is of the essence under Spanish law: if a ship mortgage is not registered it is as if the security does not exist.

We also prepare and advise on other securities such as corporate guarantees, assignments of insurances, earnings and rights, and refund guarantees.

Finally, we also make all necessary arrangements for the release of the ship mortgages and securities, whether there is a ship sale, repayment of the indebtedness or full performance of obligations.