Fares Abdullah

Biography

Fares as an associate within the Transport & Insurance department joining the team in 2021.

Read More

Recent Experience

• Assisted in setting up a multi-layered corporate structure for a large ship-owning entity with a vast fleet in the oil trading and tanker sector. This involved creating several Special Purpose Vehicles (SPVs) for vessel ownership, with over 15 to 20 such entities incorporated. The tasks encompassed drafting, incorporation, and ensuring the functionality of these entities across various jurisdictions, including Singapore, the UAE, and other maritime locations
• Played a pivotal role in high-value ship sale and purchase transactions, collectively surpassing USD 60 million. Offering guidance in vessel ownership structuring, vessel flagging, and registration
• Worked with a significant regional ship-owning company on registering their fleet, essential for their long-term contracts with major oil companies. Also played a role in the preliminary stages of a vessel mortgage process
• Strategically advised a prominent ship-owning company with an extensive fleet on a significant Joint Venture Agreement
• Assisted in the acquisition of a €150 million superyacht for a client. This encompassed drafting and reviewing the sale agreement, overseeing corporate documentation, evaluating closing documents, conducting meetings with involved parties, and coordinating with EU attorneys for tax guidance
• Assisted a client in a complex leaseback transaction, exploring solutions to potentially reacquire the vessel despite the client’s liquidation status and continuing bareboat charterparty obligations
• Assisting a leading ship-owning company facing challenges from arbitrations initiated by an international entity. The ongoing cases are complex, and our team is focusing on providing a solid defense strategy
• Engaged in a subrogated DIAC arbitration seated in London, valued over USD 10 million, stemming from the collapse of a rig
• Demonstrated proficiency in arresting vessels and efficiently resolving maritime disputes at various stages. Successfully secured assets of companies involved in maritime debts, under local regulations or in support of international legal proceedings
• Collaborated with team members on a significant case for a leading UAE bank, addressing defaults surpassing AED 115,000,000. Our team successfully arrested vessels in both UAE and India, secured a favorable judgment of over AED 126,0000,000, and are now overseeing vessel sales and enforcement measures