Arias, Fábrega & Fábrega acted as local counsel to Piraeus Financial Holdings S.A., Piraeus Bank Societe Anonyme and Marlin Acquisitions Designated Activity Company, in the purchase and transfer of certain loan assets which included security granted by several Panamanian companies and also collateral covering various vessels registered with the Panamanian flag. 

ARIFA carried out and enhanced due diligence of the Panamanian companies and of the Panamanian vessels part of the loan portfolio and also participated in the negotiation and structuring process of the Panama related security.  For such purposes, ARIFA drafted assignment documentation to perfect the transfer, and took care of the execution and perfection process of the transaction documents.  ARIFA also took care of the filings and registrations with the Panama Maritime Authority and Public Registry. 

In addition, ARIFA made an extensive analysis of the transfer, given that the original agent to the loan portfolio affecting the Panamanian companies and vessels was part of a demerger process resulting in the hive-down of its banking sector and the establishment of a subsidiary which acquired the loan assets by way of universal succession by law mandate.