HFW advises NewLead Holding

A team of HFW lawyers has advised NewLead Holding Ltd in relation to the recent delivery of five bitumen tankers to NewLead’s fleet, the "Captain Nikolas I", the "Nepheli", the "Sofia", the "Ioli" and the "Katerina l".

The acquisition of three out of the five bitumen tankers, Captain Nikolas I, Nepheli and Sofia, is to be funded through a combination of equity and debt financing. Ioli and Katerina l were added to NewLead's fleet following two separate bareboat/leasing agreements. The quintet was added to NewLead’s fleet together with associated debt and in exchange of NewLead's issuance of shares of common stock of NewLead.

Four of the five vessels, Captain Nikolas I, Nepheli, Ioli and Katerina L, were built in 2009 and Sofia was built in 2008. NewLead has been managing Captain Nikolas I and Sofia for over a year. The remaining three vessels were delivered to NewLead's fleet at various times during the fourth quarter of 2014.

HFW's team was led by Piraeus-based partners Jasel Chauhan and Dimitri Vassos and associate Holly Foster.