LISCR appoints new general manager for London

The Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, has appointed Robert Twell as general manager of its dedicated London office, in succession to Jonathan Spremulli.

Robert Twell joins LISCR from CMA Ships UK Ltd/CMA CGM Group, where he was the Safety and Security Manager and DPA/CSO based in London. Prior to that he was with the National Sea Training Centre, a leading provider of maritime education and practical training, where he was Head of Department in Marine Studies and Fire Fighting. Robert also has extensive seagoing experience as a deck officer with, among others, Carnival UK, and Stena Ferries.

David Pascoe, Head of Maritime Operations & Standards at LISCR, says, “Robert’s expertise in safety, security, health, environmental and quality policy covering a wide range of vessels ideally suits him for the manager’s role in London, as does his experience of dealing with masters, internal managers, flag and port state control and class societies,. In addition to the traditional responsibilities of the London office, Robert will focus a significant amount of his time at the IMO in co-ordination with myself and the Permanent Representative and staff of the Liberian Permanent Mission.”

Robert Twell says, “I am excited to be joining the most innovative and proactive ship registry in the world. And I am looking forward to the challenge of using my industry knowledge and experience to the benefit of the Liberian Registry’s continually expanding client base.”

The Liberian Registry is one of the world’s largest and most active shipping registers, and has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners. www.liscr.com

ITIC survey highlights high cost of English litigation for shipbrokers

A survey of London solicitors by ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts.

ITIC gave a panel of London solicitors – all of whom had previously been instructed on cases involving ITIC members – a hypothetical claim scenario involving a broker which had been cut out of commission. The solicitors were asked to estimate the costs that the broker would have to pay to take the matter to court. The average estimate of the costs was £177,163.

The claim scenario given to the solicitors was based on actual cases financed by ITIC under its debt collection cover. It involved a sale and purchase broker which claimed that it had introduced principals and performed the original groundwork for the deal. The broker claimed that it had then been cut out at the last minute and replaced by another broker which had simply ‘tied up the loose ends”. The sellers denied that they had any commitment to the broker.

ITIC says, “A dispute of this nature is likely to involve no more than a couple of witnesses and an expert giving evidence on each side. If, at £177,163, the cost of winning was expensive, then losing would be even more so. Under the English legal system, a losing party is responsible for its opponent’s costs. The solicitors estimated that the likely additional liability if the broker lost would have amounted to £139,687. This would have brought the total costs liability faced by the broker to £316,850.”

ITIC says that, although few cases proceed all the way to trial, and many will settle at an early stage, often without the need for formal legal proceedings, it is important that brokers have a sufficient level of cover to fund the matter going to litigation. ITIC’s debt collection cover pays not only for the broker’s own costs but also for the potential liability to opponents.

ITIC is managed by Thomas Miller. More details about the club and the services it offers can be found on ITIC’s website at www.itic-insure.com


For more information:
Charlotte Kirk
ITIC
Tel. +44 (0)20 7338 0150
Fax. +44 (0)20 7338 0151
charlotte.kirk@thomasmiller.com

Moore Stephens welcomes EC decision to maintain maritime state aid guidelines

International accountant and shipping adviser Moore Stephens has welcomed a decision by the European Commission to keep in place in their current form the guidelines relating to state aid to maritime transport, which include EU tonnage tax regimes. The decision follows an EC review of the guidelines and has been formally communicated to the European Community Shipowners’ Associations (ECSA).

Sue Bill, a tax partner with Moore Stephens, says, “This is extremely good news for the shipping industry, both in the UK and elsewhere in the EU, which is facing severe competition from countries such as Singapore. It means they can now rely on a stable tax regime for the foreseeable future.

“It is understood that there are some outstanding issues relating to the guidelines which are still to be clarified. But it is believed that these are relatively minor points, and should not dilute the satisfactory overall conclusion of the review, which had generated widespread interest and concern in the shipping industry.”

Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 624 offices of independent member firms in over 100 countries, employing 21,224 people and generating revenues in 2012 of $2.3 billion. www.moorestephens.co.uk

For more information:
Sue Bill
Moore Stephens LLP
Tel: +44 (0)20 7334 9191
sue.bill@moorestephens.com

Wikborg Rein recruits LNG specialist as new partner for London office

LEADING international law firm Wikborg Rein has recruited Joe McGladdery as a partner in its London office. McGladdery joins from Qatar Gas Transport Company Limited (Nakilat) where he acted as the company's General Counsel and as a board member for a number of its subsidiary companies and joint ventures. He was responsible for developing Nakilat’s legal and insurance department and formed part of the senior management team which oversaw the expansion of the company into the world’s leading operator of LNG ships.

Before joining Nakilat, McGladdery worked as a shipbroker for H Clarkson & Co in London and Hong Kong before practising law at Simmons & Simmons and thereafter at Curtis Davis Garrard. He specialises in non-contentious shipping matters, and companies which he has successfully represented include Kuwait Oil Tanker Company, Novorossiysk Shipping Company, Marathon Oil, and Sovcomflot.

McGladdery says he relishes the opportunity to develop his practice as a shipping projects lawyer, with particular emphasis on the LNG market, where he foresees an expansion in seaborne trade. He says, “I hope that my practical shipping industry experience will be of great value to the firm’s clients.”

Finn Bjornstad, who was recently appointed senior partner of Wikborg Rein’s London office, says, “We are delighted to have recruited a person of Joe’s experience, reputation and ability. He will form an important part of the team we are continuing to develop in London offering global English law capability in the maritime sector. Joe’s experience as a shipbroker and as part of the management team of a leading ship owner and operator will greatly supplement the knowledge base within the firm.”


Wikborg Rein is a pre-eminent law firm in the shipping and offshore sector, and a major player on the international scene. Services to the maritime industry include ship, project and lease finance, corporate, contract negotiation, offshore and construction projects, sale and purchase, ship registration, insurance, casualty response, carriage of goods, ship arrest and international dispute resolution. More information on the firm and its partners can be found at www.wr.no

Implementing IFRS 4, Phase II

Moore Stephens seminar

LEADING insurance accountant Moore Stephens is hosting a seminar in London on June 8 to outline the key elements of International Financial Reporting Standards 4 Phase II. There is no charge for attendance.

Whilst the implementation date for the new IFRS for insurance contracts will not be until 2014, the impact on business processes and systems will be significant. Many organisations are at a critical stage of their Solvency II programmes, and with similarities in the requirements there is a small window of opportunity to understand the synergies, and to adapt existing programmes to manage the change simultaneously and in the most cost-effective way.

IFRS 4 also introduces a number of requirements that go beyond the scope of Solvency II so it is essential that insurers understand the implications of the conversion, take a strategic view of the impact of these changes and build in flexibility at this stage to ensure they meet the new requirements.

Planning is essential to understand the complexity and scale of change. Moore Stephens combines accounting expertise with Solvency II knowledge and experience to help you understand the requirements of IFRS 4, Phase II, and prepare for the proposed deadlines.

Come along to a FREE seminar where Moore Stephens experts will outline the key elements of IFRS 4 Phase II and give practical advice on the steps you need to take to be ready for its implementation.

The seminar will be chaired by Simon Gallagher, head of the Moore Stephens Insurance Industry Group, wnd will include contributions from Moore Stephens partners David Chopping and Michael Butler.

The seminar will be held in the Minster Suite at Balls Bros in Mincing Lane. Registration starts at 1600hrs, and the seminar will run from 1630hrs to 1730hrs.

If you would like to attend, contact Shona Conacher at:

shona.conacher@moorestephens.com

Wikborg Rein expands capabilities with Brazil alliance

LEADING international law firm Wikborg Rein has concluded an alliance with one of Brazil’s leading law firms, Vieira, Rezende, Barbosa e Guerreiro Advogados (VRBG), which will have significant benefits for the international clients of both firms.

The best friend alliance agreement between the two firms will include co-operation on client referrals and joint assignments, and will also involve the exchange of lawyers and competence building.

Wikborg Rein Global Managing Partner, Susanne Munch Thore, says, “Brazil has developed into a high-priority market for many of our clients, and it is important that, as a leading provider of international legal services, we have the capacity to support our clients wherever business takes them.

“This is the first time one of the top international shipping and offshore oil & gas firms has made a commitment like this. It demonstrates our understanding of the commercial realities of the market, and where growth will come from for our clients.”

Partner Finn Bjørnstad, who will shortly be taking up the role of managing partner in Wikborg Rein's London office, has considerable experience in supporting clients in Brazil. He says, “VRBG is internationally recognised as one of Brazil’s leading law firms, with an excellent track record in the offshore oil and gas sector. It is ideally placed to work with international clients looking to develop opportunities in a market with such great potential.”

For a number of years, Wikborg Rein has supported its clients as they have developed their Brazilian business interests, specifically in the offshore oil & gas sector. However, with an increase in offshore oil & gas investment in Brazil, it recognised that there was a need to provide high-quality ‘on the ground’ legal support.

From June 2011, Wikborg Rein will have one senior lawyer working out of the VRBG office in Rio de Janeiro, and VRBG will have one lawyer working out of the Wikborg Rein office in Shanghai.

The alliance will have major benefits for the international clients of both firms. Geir Sviggum, the partner who heads up Wikborg Rein’s Shanghai office, sees significant advantages in this relationship as links between China and Brazil develop. He says, “The transfer of skills, knowledge, and people will provide both firms’ clients with access to advisers who have extensive offshore oil and gas experience, and who really understand the key issues in two of the world’s most significant developing markets - China and Brazil.

"Our Shanghai office already provides support to Chinese clients looking to develop their interests in Brazil. This agreement cements our position as global leaders in this area.”

Chris Grieveson, a partner in Wikborg Rein’s Singapore office, meanwhile notes, “I believe we are now in a position to provide an unrivalled service. If you are based in wider Asia and are looking to develop your business in Brazil, come and discuss it with us. We have a Brazilian expert sitting in our offices.”

This agreement secures Wikborg Rein’s clients access to the best legal resources in Brazil, and will be a platform for Wikborg Rein to continue to add value to its clients’ business interests.

Read more about Wikborg Rein's Brazil team at http://www.wr.no/ and about VRBG at http://www.vrbg.com.br/

About Wikborg Rein

Established in 1923 with large offices in Oslo and Bergen, and employing 215 lawyers worldwide, Wikborg Rein is one of Norway’s leading full service commercial law firms. It is a pre-eminent law firm in the shipping and offshore sector, and a major player on the international scene. Services to the maritime industry include ship, project and lease finance, corporate, contract negotiation, offshore and construction projects, sale and purchase, ship registration, insurance, casualty response, carriage of goods, ship arrest and international dispute resolution. More information on the firm and its partners can be found at www.wr.no

For further information:

Susanne Munch Thore
Managing Partner, Wikborg Rein (Norway)
Tel: (+47) 22 82 76 18
Mobile: (+47) 911 36 899 Email: smt@wr.no

Geir Sviggum
Partner (Shanghai)
Tel: (+86) 21 6339
Mobile: (+86) 13 9186 13473 Email: gsv@wrco.com.cn

Chris Grieveson
Partner (Singapore)
Tel: (+65) 6438 4498Mobile: (+65) 9112 8445 Email: cjg@wr.com.sg