WHAT YOU KNOW AND DON’T KNOW 
       ABOUT THE PANAMA SHIP MORTGAGE 
       
      WISTA LUNCHEON SEMINAR & NETWORKING 
      October 3, 2012 
      WISTA – Women’s International Shipping and Trading Association, Singapore Chapter 
       
      Tomás M. Ávila M. 
      Senior Partner, Ávila & Co., Panama – www.avilaco.com 
                       WHAT YOU KNOW AND DON'T KNOW     1 
                       ABOUT THE PANAMA SHIP MORTGAGE 
      Introduction to the Panama Registry and the institution of the Panama Ship 
        Mortgage, from a Historical Perspective 
      
      What You Know 
          Brief Review of the Mortgage, as generally understood 
          Formal Requirements  
          Mortgage of a Vessel under Construction 
          Enforceability 
       
      What You Don’t Know 
          General discussion on FAQ received at our firm 
              Can a Panama Ship Mortgage be novated 
              Can a Panama Ship Mortgage secure more than one obligation 
              Is a Panama Ship Mortgage valid even if the owner has yet to receive legal title of a vessel 
              Is the Panama Ship Mortgage a unilateral act or an agreement by both parties. 
          Alternatives to the registration of the usual 40-page mortgage instrument – How to save a few 
            bucks and make the Borrower happy while keeping the Lenders’ interest secured. 
                              WHAT YOU KNOW AND DON'T KNOW                2 
                              ABOUT THE PANAMA SHIP MORTGAGE 
      Introduction to the Panama Registry and  
          the institution of the Panama Ship 
                        Mortgage,  
             from a Historical Perspective 
       
                       WHAT YOU KNOW AND DON'T KNOW     3 
                       ABOUT THE PANAMA SHIP MORTGAGE 
            WHAT YOU KNOW 
                       WHAT YOU KNOW AND DON'T KNOW     4 
                       ABOUT THE PANAMA SHIP MORTGAGE