UNICREDIT BANK

South Africa, Germany, Turkey
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“Sadan K” and “Zeynep K”: We represented Unicredit Bank, the mortgagee bank of the “Sadan K” and “Zeynep K”, in a foreclosure resulting in the arrest and judicial sale of the two vessels in Durban, South Africa by public auction on 10 March 2016, as ordered by the South African High Court.

  • Jurisdictions involved: Unicredit are based in Germany. The owners of the Sadan K and Zeynep K at the time of arrest were Marshall Islands companies. The borrower under the loan agreement with Unicredit at the time of arrest was a Turkish company.
  • Lead Partner :  Craig Cunningham
  • Other lawyers involved: Joëlle Downes, Goscelin Gordon, Lana Jacobs
  • Completion date: The ships were sold on 10 March 2016
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