Most business lawyers would be familiar with the standard types
of legal due diligence carried out in the usual commercial purchase
and sale or financing transaction. Performing minute book reviews,
conducting public searches and, reviewing material contracts and
financial statements are some of the more common due diligence best
practices in business transactions. Depending upon the nature of
the transaction, local expertise is required, for example in areas
such as real estate, wind energy and one that is familiar to
lawyers who practice in Atlantic Canada, vessel transactions.
While much of the due diligence involved in vessel transactions
relates to marine law which is primarily in the federal domain,
there are location specific aspects to be mindful of and local
counsel situated in the Atlantic provinces have both the expertise
and the relationships required to ensure the smooth completion of a
deal involving a vessel.
