Solent: Shoosmiths marine division in £150m deals

Shoosmiths flourishing marine law division based in Solent has advised on more than £150 million of deals in its first year of operation.

Acting for yacht owners, manufacturers, banks, designers and international yacht racing teams, the team’s success in the first 12 months has outstripped expectations and they are now expanding to meet the demand.

Shoosmiths partner and head of the five-strong marine law division Jonathan Hadley-Piggin said: “We are really pleased with the impact we have made. The south coast is the perfect location for our work and the demand for this highly specialised service is high.

“We have advised clients on the sale and purchase of yachts up to 76 metres in locations such as Latvia, Australia and Dubai which just goes to prove that the UK is leading the way and remains a key player in the industry.

“We are also acting for one particular client who has bought four yachts all between £10-20m just in the last year – it is big business.”

As well as advising on worldwide yacht purchase-and-build transactions, plus the construction of racing yachts on the south coast, the team also acts for banks financing the purchase of yachts – these deals have totalled in excess of £50 million in just the last six months.

New recruit Claire Bradbury, formerly of the Royal Yachting Association, has been appointed to help with the increasing workload and there are plans to expand the team further over the next 12 months.

The marine law division of Shoosmiths provides advice on both commercial and contentious issues including negotiation of new build contracts, yacht finance, yacht sale and purchase, charter contracts, crew agreements insurance and other marine-related disputes both in the UK and abroad.