Frankfurt, 4 April 2017 – The Silverton Group (Silverton) is expanding its range of services to include the credit servicing of ship financing.
Together with well-known lawyer Ulf Bertheau (58), who has more than 30 years‘ experience, the joint venture Silverton Maritime Solutions has therefore been founded. The headquarters of the company, managed by Ulf Bertheau, are in Hamburg.
Until May 2016, Ulf Bertheau was Managing Director of shipbuilder Flensburger Schiffbau-Gesellschaft, before returning, as Counsel for Maritime Law, to the Luther Rechtsanwaltsgesellschaft mbH, the law practice of which he was a partner for many years.
He has extensive knowledge and experience in the field of maritime law, gained inter alia as a Legal Counsel at Egon Oldendorff and as a lawyer at Cyrus Makowski, the well-known Hamburg law practice specialising in shipping, in addition to the Luther Rechtsanwaltsgesellschaft. After the onset of the shipping crisis in 2008, he was primarily involved in restructuring shipping projects and maritime companies.
Ulf Bertheau, Managing Director of Silverton Maritime Solutions: „Clearly, the present phase of the shipping crisis is necessitating structures that go beyond the usual legal advice and corporate consultancy. It is also possible for the banks to transfer risk by selling loans, a process that is much simpler and more efficient to implement than the sale of a ship. The purchasers often do not have the resources required for the ensuing management – our aim is to fill this gap.“
Jascha Hofferbert, Director and co-founder of Silverton, comments on the founding of the new company: „Currently, we are experiencing significant changes in this segment of the market. The banks, as well as private-equity investors, are reconsidering their strategies for dealing with ship loans in the future. We will be able to provide an efficient and flexible service for the purchasers of ship loans.“
In the future, Silverton Maritime Solutions will provide services for banks and alternative financial institutions in the outsourcing of ship loans. It will also act as a servicer for private equity investors. As well as servicing loans, activities will primarily be concentrated on the operative management of the loans. For this, the extensive expertise of the Luther legal practice will be available at all times for due diligence and determination of prices. Luther will also carry out arrests and auctions of ships, should this become necessary.
The Silverton Group’s range of services also includes the investment and asset management of commercial property and loans secured on real estate; consultancy on transactions and processing in the areas of special situations, distressed debt and real estate; as well as risk advisory services and banking consultancy.