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Attorneys` Association “Gestors” Acted as Legal Advisor PJSC “SJSC “Chernomornaftogaz” as Regards Controversial Issues of Return of “Titan-2” Crane Vessel to Its Owner

Submitted by Firm:
Attorneys' Association Gestors
Firm Contacts:
Andriy Tsvyetkov
Article Type:
Press Release
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Attorneys` Association “Gestors” acted as legal advisor to Public Joint-Stock Company “State Joint-Stock Company “Chernomornaftogaz” (hereinafter referred to as the PJSC “SJSC “Chernomornaftogaz”) as regards controversial issues of return of “Titan-2” crane vessel to its owner.

The “Titan-2” crane vessel, which is designed for installation and dismantling of floating drilling platforms and their service, since 2003 has been in the bareboat charter in the Swedish company, and since 2011 in the sub-freight in the Mexican company Oceanografia SA de CV. After a while the vessel has been arrested by the Mexican financial authorities following the bankruptcy of the Charterer Company and launch of respective investigation.

At present the Financial Prosecutor's Office of Mexico removed the arrest from “Titan-2”, and a decision on its further use is to be taken the Government of Ukraine.

Since the occupation of the Crimea peninsula by Russian Federation, this is the first time when an official body of a third country has formally recognized the ownership right of PJSC “SJSC” “Chernomornaftogaz”, re-registered in Kiev in 2014, over the company’s assets.

The project is fulfilled under the guidance by a partner of Attorneys` Association “Gestors” Andriy Tsvyetkov.