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The Yacht Brief April 2015

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Welcome to the first edition of the Ince & Co online Yachting Newsletter, which we shall be sending out on a regular basis to our valued yachting clients and contacts. In each Newsletter, we shall be reviewing relevant cases and regulatory developments that will be of interest to you and may impact on your business. Our focus will be on international legal and regulatory developments relating to yachtbuilding, sale and purchase, insurance and operational matters. 

We hope you enjoy the newsletter! Please let us know if you have any questions or comments about the articles, if you are interested in a particular topic or if you have any feedback or suggestions on the newsletter itself.

Jamila Khan

Jamila Khan Partner and Head of Office, Piraeus

Victoria Liaou

Victoria Liaou Managing Associate

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Featured news & insights

News / Brokers beware protect your commission

22-04-2015 / Maritime

Speed read Yacht brokers who invest time and money working towards a potential yacht sale expect to be rewarded for their efforts by receiving a commission when the deal completes. If the sale is not concluded, the brokers will earn no commission and their (often considerable) efforts will have been in vain. On the other hand, brokers can sometimes earn a substantial commission on sales that may have required less work from them, as in the 2010 case of Berezovsky v. Edmiston (Darius).

Brokers beware protect your commission

News / What as is where is really means in yacht sale contracts

22-04-2015 / Maritime

Speed read The commercial understanding of the phrases “as is” or “as is where is” has always been that a buyer must take a yacht in the condition in which she is found at the time defined in the contract, all faults included, without any warranties by the seller as to quality or condition. This understanding has previously been questioned but has now been endorsed again in the English 2014 case of Michael Hirtenstein & Others v. Hill Dickinson LLP.

What as is where is really means in yacht sale contracts

News / A good claim can be invalidated by passing false information to the insurer

22-04-2015 / Maritime

Speed read In a 2014 judgment of considerable significance (Versloot Dredging BV v. HDI Gerling and others (DC Merwestone), the English Court of Appeal has for the first time authoritatively established a “bright line rule” that an assured who tells a lie or uses false evidence to support his otherwise valid claim will forfeit the claim.

A good claim can be invalidated by passing false information to the insurer

News / Building a yacht in Germany: your choice of law may not be as simple as you think

22-04-2015 / Maritime

Speed read Newbuild contracts for yachts are often subject to English law, which is commonly chosen to govern cross-border commercial contracts. While English law provides considerable certainty of outcome for the parties, a potential buyer from a German yard may find that certain elements of his English law contract will nonetheless be subject to German law. Consider, by way of example, the scenarios below.

Building a yacht in Germany: your choice of law may not be as simple as you think