Romero Pineda advises Tropigas El Salvador, S.A.

May 11, 2016

Tropigas El Salvador, S.A., is the leader Company in the service of liquefied petroleum gas in El Salvador and the Central American region, backed by more than half a century of experience in their operations, having 10 filling plants in the country and the largest maritime terminal in the region.
Tropigas works along with its sister companies among which is Western Energy Transport Inc., S.A., and they all have been working with our Firm for over 10 years. In this ooccasion, we have advise them during the process of negotiations of contracts for the construction of one vessel to carry GLP by themselves (without having to sub contract a third party charter services) with this vessel the Company’s operations are consolidating and closing the chain of their line of business, the Vessel is going to be constructed by  Hyundai Mipo Dockyard Co., Ltd. We reviewed the shipbuilding contract and all documents related to the negotiations and advised our clients on the pertaining legal issues that needed to be addressed. 
At the same time, Tropigas El Salvador, S.A needed to obtain the resources to be able to acquire the vessel. Romero Pineda acted as local counsel in the negotiations and legal process and advice on a Credit transaction with Credit Suisse AG, Cayman Island Branch. This transaction is to be ruled by NY and Salvadoran Law and documents such as the Mater Credit Agreement, Letter of Credit, Pledge over Assets, Mortgage and other local warranties were issued.