NARROW ESCAPE

NARROW ESCAPE

A while ago, after legal consultation Apex Chambers was engaged by a multinational company to conduct due diligence on a scrap vessel it picked interest in buying.

The vessel owner had already gotten a Lawyer to draft a Memorandum of Understanding in respect of this transaction and parties involved were pressuring our clients to append their signature and conclude the deal.

We swung into action and requested for NIMASA certificate of registration and other relevant documents from the owner. We were handed over some documents in that regard.

We made thorough findings on the ownership and legal status of the vessel, and produced a written report which clearly showed that most of the claims by the owner were untrue and therefore advised our client to discontinue the transaction. They took our advice and pulled the plug on the sale of vessel transaction.

Due diligence is your surest way to avoid issues in Property and Business transactions. Don’t skip it.

If you need legal help with any Property or Business transaction or matter, call Apex Chambers anytime, anyday and from anywhere on +2347030868694