Citizenship Issues

One of Brian's marine equipment lender clients was considering making a multimillion-dollar loan to a marine company that had recently been acquired by a private equity firm. After analyzing the foreign ownership of the private equity firm, Brian determined that the proposed borrower was not an eligible documentation citizen or a Jones Act qualified citizen. Assisting in negotiations between his lender client and the borrower, Brian was able to help structure a solution involving a new borrower as the qualified owner, combined with a time charter of the vessels in an economic arrangement that benefited all parties.