ONBOARD Magazine summer 2021

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Back atthe helmOur legal experts will helpyou navigate with easeElliot Bishop | +44 (0) 2702 057 024Sarah Fairweather | +44 (0) 3700 866 915www.shoosmiths.co.ukOnboard-Magazine-Ad-180x130-0621.indd 1 21/06/2021 09:23:05DO MORE. ACHIEVE MORE.At the heart of our service ethos is thebelief that you are looking for stress-freesailing during the life of the vessel.We aim high.We believe in doing moreso that our clients can.Active Wealth | Global Expansion | FundsCayman Islands / Guernsey / Hong Kong / Isle of Man / Jersey / Luxembourg / Malta / Miami / NetherlandsNew Zealand / Poland / Romania / San Francisco / Singapore / Switzerland / United KingdomRegulatory information is detailed on zedra.comFollow us onwww.zedra.com98 | SUMMER 2021 | ONBOARD
LEGALPG LEGALPG Legal is an award-winning international law firm specialised in luxury assets.More than 20 years of experience with superyachts, private jets, luxury property andart make them a top tier firm chosen by international corporate and private clients.PG Legal’s superyacht team has extensive experience in this highly niche area. Theyact for luxury yacht builders, UHNW individuals, banks, finance institutions, insurancecompanies and other industry professionals such as corporate service providers,brokers, yacht managers, designers and suppliers of yacht industry. The team oflawyers is multidisciplinary and assists clients as a ‘one-stop-shop’ on all legal and taxissues related to the ownership cycle of a superyacht. The PG Legal superyacht teamassists its clients in Italy and internationally and for this it has established a globalnetwork of trusted partner law firms of top reputation specialising in luxury assetsbased in the main luxury hubs across the world.For more details visit www.pglegal.co.ukBishop adds, “At the lower end of the market, simple errorsby prospective new entrants to the market have been costlywhen non-specialist lawyers are retained who may be unawareof unique rules relating to marine law such as yacht finance andmaritime liens which may pass with the vessel on a transfer.”BRING OUT THE BIG GUNSWhether or not the legal and finance experts form a permanentpart of the yacht’s management team or not, depends of courseon the client. Kelly is called in when disputes come up in thebuild or operation of the yacht. But during contract or buildprojects he’s more involved on a day to day basis, resolvingdisputes over cost or delays, or what spec is required. Hesays, “If the owner and builder teams work well together, thenthere is no need for heavy lawyer involvement. If they can’tagree then they tend to need more mediation, which is usuallywhere I am involved more.”Mousney believes he is viewed as part of the yacht’s managementteam, especially during a shipbuilding process.Says Charlier, “We see all sorts of different decisions beingtaken, and depending on that decision you can get the rightoutcome or not the right outcome. It’s important for the ownerto have the right advisers around him whether that be a yachtsurveyor or a marine lawyer, a broker. We don’t always knowwho’ll we be up against on the other side of the transactionand that can be one of the fun parts of it, because you don’tnecessarily have someone with the same knowledge or expertiseon the other side.”Some see the lawyers as an evil and extra cost and try to usethem as little as possible. “I don’t mind that,” says Tooker, “aslong as they have an organisation to deal with things and don’tat the very last minute dump a whole load of problems on yourdesk with no time and no proper background to resolve them. It’snot the way to get the best advice from a professional adviser.”Van Steenderen agrees, “There are still too many owners outthere who come to us too late.”Says Fairweather, “We see mistakes – and often costly ones – whennon-specialists become involved in this niche area. Conversely,those family offices or captains who appreciate the requirementfor specialist advice at an early stage, will see the benefits inoverall legal spend.”The message from all sides is well clear: Get the right experton the job at the right time to save on anxiety attacks, timeand money. Do it before the horse has bolted, or indeed, before… that ship has sailed.ONBOARD | SUMMER 2021 | 99
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SUMMER 21Beyonce interviewTeak a lo
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CONTENTSFEATURES24CRAZY IN LOVE WIT
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AQUAPARK PRODUCTS FOR231TO BECOME A
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COMMENTGet the showoff the roadHave
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UPFRONTOPINIONS, FACTS, STORIES AND
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UPFRONTPROTECT OUR OCEANSThe future
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TOOLS OF THE TRADEKEEP AN EYE OUTCo
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COMPETITIVE FUNCTIONAL CUSTOMIZATIO
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ITALIAN STYLEGERMAN BUILDFirst call
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22 | SUMMER 2021 | ONBOARDProviding
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ADVERTORIALRace Your HeartbeatThe B
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BAGS OF FUNThe art of weaving bags
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IS IT SOCIALMEDIA’SFAULT OR ISIT
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ADVERTORIALNATURE’S CHOICEThe Con
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DESIREBLADES OF GLORYThe ‘Maker
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SUMMER 21The must read publication
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ONBOARD Magazine summer 2021

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