Watson Farley and Williams

Danaos completes debt restructuring

Greek vessel charterer Danaos Corporation has restructured its US$1.25 billion debt, the refinancing reduces the outstanding debt to a single credit facility from the original nine senior secured credit lines.

Supported by Watson Farley & Williams’ (WFW) Greek office the refinancing includes a sale and leaseback deal for five vessels worth US$135m with Oriental Fleet International Company Limited, an affiliate of COSCO Shipping Lease Co., Ltd.

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https://container-news.com/danaos-completes-debt-restructuring/

High Court ruling “pushes aside corporate veil” in Maran UK case

UK law firm Watson Farley and Williams (WFW) has warned shipping lines that the high court ruling that Maran UK had a duty of care for shipyard worker Khalil Mollah who fell to his death while working on the oil tanker 300,000dwt Ekta in 2018.

The implications of the ruling, passed on 13 July by Justice Jay, are twofold according WFW, companies with opaque ownership structures that attempt to avoid liability will not be protected in future. While, given the difficulties around what WFW call...

https://container-news.com/high-court-ruling-pushes-aside-corporate-veil-in-maran-uk-case/