News from our Members and Partners

30 September 2019

WFW advises CMBFL on US$93.7m sale and leaseback transaction with Star Bulk

Watson Farley & Williams (“WFW”) advised China Merchant Bank Financial Leasing Co., Ltd. (“CMBFL”) on a US$93.47m sale and lease back transaction with NASDAQ-listed Star Bulk Carriers Corp (“Starbulk”).

The proceeds of the transaction were used to finance the cash consideration in a share and cash transaction for the acquisition of eleven dry bulk vessels from Delphin Shipping LLC.

Founded in 2008, Shanghai-based CMBFL provides financial leasing solutions to large, medium and small businesses across China. It is a subsidiary of China Merchants Bank, the first share-holding commercial bank wholly owned by corporate legal entities in China.

The cross-border WFW Maritime team in Hong Kong, Athens, Hamburg and New York advising CMBFL was led by Hong Kong Partner Christoforos Bisbikos supported by Associate Simon Lin and Trainee Daphne Tso.

The WFW Maritime team in Hong Kong was supported by Athens Associates Konstantinos Mexias, Marilena Kossyfa, and Paralegal Katerina Dimitriou, while Partner and WFW New York Head Daniel Rodgers advised on Liberian and Marshall Islands law, supported by Associates Amma Ofori, Ace Pawlikowski and Maxi Adamski-de Visser. Hamburg Partner Clemens Hillmer and Associate Jakob Paluszkiewicz advised on the German law aspects of the transaction.

Christoforos commented:

“The successful roll out of this transaction demonstrates that Chinese leasing continues to be instrumental in supporting well-known and established ship-owning companies by financing the acquisition of fleets. That the deal was documented and the first batch of vessels were delivered within three weeks, is testimony to WFW’s ability to offer seamless advice on complicated matters involving multiple parties, vessels and jurisdictions”.


About Watson Farley & Williams:

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w:

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