Firms in the Spotlight Maritime and admiralty

Montanios & Montanios LLC

Montanios & Montanios (M & M) is one of the oldest law firms in Cyprus with an international practice. Over the last 67 years, it has acted for a wide spectrum of Cypriot and overseas clients, both corporate and private. It has been involved in a great number of local and international shipping corporate and …

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Maritime and admiralty in Cyprus

Chrysses Demetriades & Co Law Office

Chrysses Demetriades & Co Law Office‘s group has a wealth of knowledge and experience in shipping legislation and ship registration across different countries, and its client base includes some of the world’s largest ship owning and ship management companies. It also represents a sizeable number of global banks and other financial institutions and funds that are involved in the financing of ships and multijurisdictional fleets of ships. Also notable is that the team is adept at advising these entities on the financing aspects where Cyprus law or a Cyprus flag is involved. The practice is jointly led by Michael McBride and Marion Madella. In addition to generating mandates on a standalone basis, it is also regularly engaged by international law firms, particularly on the financing and security agreements for key ship financing projects. Nikoleta Kleovoulou is also recommended.

Other key lawyers:

Nikoleta Kleovoulou

Testimonials

‘They are a large Cypriot firm able to offer full service support. It is important to be able to have access to a bench of able practitioners, especially in a jurisdiction like Cyprus where there is international and professional legal support. Marion Madella is responsive and able to deliver the necessary support when needed in a timely and effectively manner.’

‘CD is for good reason the most prominent law firm in Cyprus.’

‘Very responsive service. Knowledgeable in their field. Marion Madella is very experienced and a safe pair of hands.’

‘Very efficient cooperation for decades. We receive quick feedback and enjoy continuity in the persons in charge.’

‘Michael McBride: very committed and client-oriented. Marion Madella: excellent cooperation in ship financing matters, very experienced, absolutely reliable and quick.’

‘They are THE shipping firm in Cyprus.’

‘They are very responsive and reliable. They think practically, not inventing problems. Good and reliable team. Always in control.’

Work highlights

  • Assisted certain consortiums of Skandinavian/European banks and financial institutions with all matters of Cyprus law in the restructuring of certain financing transactions, each for an amount well over €1bn, emerging from the prolonged cruise vessels debt holiday scheme.
  • Assisted a Norwegian bank with all matters of Cyprus law in a transaction relating to the refinancing of a fleet of 75 vessels.
  • Assisted certain Scandinavian and European banks with all matters of Cyprus law in a series of transactions relating to the refinancing of a fleet of vessels.

Elias Neocleous & Co LLC

The admiralty and shipping department at Elias Neocleous & Co LLC is led by Costas Stamatiou. The skilled team advises banks, owners, managers, charterers and cargo owners (as well as their respective insurers) on all contentious and non-contentious shipping matters. In addition, it frequently advises on shipbuilding contracts and other issues such as choice of flag and registration. The practice is also adept at handling shipping litigation and admiralty proceedings. It regularly advises on proceedings for the arrest of ships or cargo to secure unpaid debt. Also notable is that the group has a long history of successful cooperation with leading international law firms. Andreas Christofides is a name to note.

Practice head(s):

Costas Stamatiou

Testimonials

‘They were very effective in assisting with a sanctions-related matter involving Turkey, providing useful and creative insights.’

 ‘I have found the team extremely knowledgeable, strategic and effective. They have been able to fully explain what I can expect in the Cyprus court system and we have made strategic decisions on how to proceed. Very thoughtful and practical in their approach.’

‘I am working with Costas Stamatiou, Vassilis Psyrras and Andreas Christofides. All are solid and thoughtful.’

Vassilis Psyrras. A very able, dedicated and hardworking young man. He takes a very sensible approach and is a very good problem solver rather than problem creator.’

‘Close relationship with state authorities.’

Key clients

Abamba Limited

KKCG

Limassol Marina

Aphentrica Marine Insurance

Franman (Cyprus) Limited

ISD Dunaferr

Jarillo Shipping Company Ltd

BW Shipping (formerly Bergesen Worldwide)

Argo Coral Maritime Limited

Western Maritime

Lloyds of London

Montanios & Montanios LLC

Montanios & Montanios LLC has a strong pedigree for handling the full spectrum of shipping, ship finance and admiralty matters. It has many high-profile local and international clients, including P&I clubs, ship owners, ship management companies and banks. The group has an enviable track record of advising major Cypriot and international banks and borrowers on ship financing deals. It also handles a broad cross-section of contentious matters, which often involve a multijurisdictional dimension. Eric MontaniosAcis MontaniosAdam MontaniosPetros Iacovides and Yiannis Papapetrou are among the names to note.

Other key lawyers:

Eric Montanios; Maria Toumazi

Testimonials

‘Very long established, reputable and reliable firm with efficient service. Knowledgeable and efficient. The people and dedication to detail. Reliability and speed of delivery.’

‘We have been working with Montanios for a couple of decades now. They have an intimate knowledge of the shipping industry and have a wonderfully practical way of handling sticky situations, which you only get with years of experience.’

‘Thorough understanding of the legal environment governing Cypriot holding companies. Prompt response to queries. Availability out of normal business hours for urgent matters. Very pragmatic. Have a good relationship with the Cyprus ship registry. Helpful and responsive. A reliable and longstanding co-operation.’

‘Adam Montanios is excellent. He is very professional at all levels. He treats us as his unique clients and with professionalism thus it makes us a happy client.’

Key clients

Tsakos Group

Safe Bulkers Inc.

Olympia Ocean Carriers Ltd

Histria Shipmanagement Ltd

Santierul Naval Constanta S.A.

West of England P&I Club

North of England P&I Club

Steamship Mutual P&I Club

Island Oil Limited

Island Petroleum Ltd

Sirios Shipmanagement

Bank of Cyprus

Hellenic Bank

Eurobank Cyprus

Astrobank

Work highlights

  • Assisting a fleet operator and shipowner with all aspects of the urgent reflagging of an oil tanker from Malta to Cyprus, as well as setting up the relevant corporate structure.
  • Advised the financial arm of a major foreign shipbuilding company on the prospects of arresting four vessels in Cyprus.
  • Assisted the charterers and a lender with the sale and leaseback to Cypriot companies of several vessels registered in parallel under the Cyprus flag and owned by the bank’s Hong Kong incorporated subsidiaries.

Christodoulos G. Vassiliades & Co. LLC

Christodoulos G. Vassiliades & Co. LLC provides the full range of legal services to ship owners and ship managing companies. It advises on matters such as the purchase and registration of vessels, the securing of finance and charter agreements. Annamaria Vassiliades, Maria Alexandrou and Eleni Marinaki co-head the excellent team. Also of note are managing director Christodoulos G. Vassiliades and deputy managing director Louisa Massonidou, who have been appointed by the Belize International Financial Services Commission to act as deputy registrars of the International Merchant Marine Registry of Belize in Cyprus and Greece. The group also has considerable experience of yacht registrations in many jurisdictions.

Testimonials

‘CV team is very professional. There have been no delays from their side, even if we are talking about tight deadlines.’

Professional, client-oriented, flexible, always at your disposal team. The team is always willing to assist you with any kind of request and never says no.’

Work highlights

  • Acted as Cyprus legal counsel in a high-profile case involving the construction of the world’s first shallow-draught, icebreaking walk – to- work vessel. The value of this deal was in excess of €200m.
  • Acting as Cyprus legal counsel in high value cases involving the securing of financing of the purchases of vessels, which are in excess of $50m.
  • Acting as legal counsel in relation to the transfer of ownership of a vessel with UK flag.

Michael Kyprianou & Co. LLC

Michael Kyprianou & Co. LLC acts for various ship owners, ship managers, financial institutions and other entities on a wide range of matters pertaining to the shipping industry. It regularly advises on many contentious issues, such as charter party disputes, the carriage of goods by sea and cargo claims, as well as disputes under ship building contracts and marine insurance claims. The group is also recommended for its experience in major shipping transactions and at issuing legal opinions on numerous ship financing deals. Tonia Antoniou, Ioanna Solomou and Peter Schodder are the practice heads.

Key clients

DP World Limassol

SMT Shipping Group

Work highlights

  • Providing ongoing assistance and advice as to maritime, regulatory and compliance requirements of its client, being an important stakeholder to the maritime industry in Cyprus, due to the type of services they provide. The firm acts as their first point of contact for their corporate and commercial matters as well, including but not limited to commercial contracts, employment law, shipping related matters and GDPR.
  • Acts as the leading local legal advisors of a major group of shipping companies and is entrusted with all their legal and regulatory matters in Cyprus.