Boat Brokers have a special relationship to buyers and sellers coupled with onerous ‘fiduciary duties’ that can be breached in various ways leading to financial headaches, however these costly mistakes may be avoided. There are three main relationships a broker can have to a buyer or seller: The first being where the broker is an agent for the buyer or…
When I was an apprentice shipwright, one of the old-hats around the slipway was always spouting gems of wisdom. From him, I heard thatthe only people who make any money out of boats, are brokers. This is not entirely true. Since changing careers I’ve found that lawyers do alright of ‘boats’ as well. Nevertheless, brokers have a special relationship to…
Recently I attended a seminar in London on ‘Yacht and Yachting Law’ that was run by Filippo Lorenzon Director of the Institute of Maritime Law for the University of Southampton. The seminar heralded the launch of the first edition with the same name, a beautifully bound text, that covers ‘the whole nine yards’ and while having an English/Euro Law focus…
Prior to the explosion of social media, it could be argued that marine business was seldom exposed to a legal claim for defamation. But with the ease and access that every person has to this incredibly broad form of communication policing what is said has become and extremely difficult leaving business even more exposed. In essence the tension from a…
It was a devastating blow to all involved at Mullen & Wing shipyard when a fire gutted the largest construction hall, destroying the 50 metre Star Fish that was two-and-a-half years into her three-year build worth in excess of NZ$50 million. But imagine if this was your dream-build and after the event you learn you weren’t covered by insurance. While…
It’s the ONLY thing,’ said the Water Rat solemnly, as he leant forward for his stroke. `Believe me, my young friend, there is NOTHING–absolute nothing–half so much worth doing as simply messing about in boats. (Kenneth Grahame 1859-1932) The romantic notion that Grahame conjures up in his novel ‘Wind In The Willows’ often forms the basis of the decision making…
Significant changes to the Work Health and Safety Act have changed the seascape for all of us in the marine business. With many organisations running courses on these changes, the changes are complex enough to have resulted in making a visit to your lawyer one of the things you have put on your to-do-list for 2012. Hopefully, this article while…
A romantic notion often underpins the decision making process when purchasing a boat and there is no better way to tap into this sentiment than a boat show. In today’s challenging market filled with legal pitfalls this romantic notion needs to be coupled with maximising value and minimising risk. The processes described in this article are both practical and legal…
In my article in Issue 35 of Ocean Magazine titled “Fire In The Hold” I discussed the issue of piracy as a re-emerging phenomenon and whether private boat-owners should choose to arm themselves as a means of protection. Since this article, reports from the International Maritime Bureau (IMB) indicate that the frequency of piracy incidents have not waned. In fact,…
A shipmasters’ obligation when rendering assistance on the high seas. A luxury cruise ship, ‘The Star Princess’ recently made a splash in international maritime news for all the wrong reasons. Immediately after the incident various organisations reported a fishing vessel had signalled the cruise ship and three bird watching passengers, who had informed the crew that they saw a fishing…