Ana irene Delgado – Picture by Anny Zade
SOLENDEG PANAMA London office, is proud to announce;
Panama has enacted a law that allows the Panama Ship Registry to register mortgages in English that has entered into force immediately.
Law 27 of 2014 will end the double registration, first in Spanish which had to be translated from English or any other language before mortgages be registered.
Banks willing to follow the standard registration procedure whereby the English text Mortgage Agreement is registered in the form of a Spanish text Public Deed with a full translation of the Mortgage Agreement are free to do so.
The same Mortgage Agreement, however, can now be filed for registration without Spanish translation as an exhibit to a two pages Mortgage Extract signed by the owner and the bank which simply outlines the minimum required information for registration purposes:
- name and address of the owner and the bank
- vessel’s particulars
- maximum secured amount
- applicable interest rate and maturity date
Contact info
Ana Irene Delgado
anaidelgado@solendeg.com
+447530071424
SOLENDEG London
17 Hanover Square
W1S 1BN
London, UK
Contact info
Ana Irene Delgado
SOLENDEG London
17 Hanover Square
W1S 1BN
London, UK
