ONBOARD Magazine summer 2021

LEGAL
PG LEGAL
PG Legal is an award-winning international law firm specialised in luxury assets.
More than 20 years of experience with superyachts, private jets, luxury property and
art 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. They
act for luxury yacht builders, UHNW individuals, banks, finance institutions, insurance
companies and other industry professionals such as corporate service providers,
brokers, yacht managers, designers and suppliers of yacht industry. The team of
lawyers is multidisciplinary and assists clients as a ‘one-stop-shop’ on all legal and tax
issues related to the ownership cycle of a superyacht. The PG Legal superyacht team
assists its clients in Italy and internationally and for this it has established a global
network of trusted partner law firms of top reputation specialising in luxury assets
based in the main luxury hubs across the world.
For more details visit www.pglegal.co.uk
Bishop adds, “At the lower end of the market, simple errors
by prospective new entrants to the market have been costly
when non-specialist lawyers are retained who may be unaware
of unique rules relating to marine law such as yacht finance and
maritime liens which may pass with the vessel on a transfer.”
BRING OUT THE BIG GUNS
Whether or not the legal and finance experts form a permanent
part of the yacht’s management team or not, depends of course
on the client. Kelly is called in when disputes come up in the
build or operation of the yacht. But during contract or build
projects he’s more involved on a day to day basis, resolving
disputes over cost or delays, or what spec is required. He
says, “If the owner and builder teams work well together, then
there is no need for heavy lawyer involvement. If they can’t
agree then they tend to need more mediation, which is usually
where I am involved more.”
Mousney believes he is viewed as part of the yacht’s management
team, especially during a shipbuilding process.
Says Charlier, “We see all sorts of different decisions being
taken, and depending on that decision you can get the right
outcome or not the right outcome. It’s important for the owner
to have the right advisers around him whether that be a yacht
surveyor or a marine lawyer, a broker. We don’t always know
who’ll we be up against on the other side of the transaction
and that can be one of the fun parts of it, because you don’t
necessarily have someone with the same knowledge or expertise
on the other side.”
Some see the lawyers as an evil and extra cost and try to use
them as little as possible. “I don’t mind that,” says Tooker, “as
long as they have an organisation to deal with things and don’t
at the very last minute dump a whole load of problems on your
desk with no time and no proper background to resolve them. It’s
not the way to get the best advice from a professional adviser.”
Van Steenderen agrees, “There are still too many owners out
there who come to us too late.”
Says Fairweather, “We see mistakes – and often costly ones – when
non-specialists become involved in this niche area. Conversely,
those family offices or captains who appreciate the requirement
for specialist advice at an early stage, will see the benefits in
overall legal spend.”
The message from all sides is well clear: Get the right expert
on the job at the right time to save on anxiety attacks, time
and money. Do it before the horse has bolted, or indeed, before
… that ship has sailed.
ONBOARD | SUMMER 2021 | 99