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&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;serif&#39;&quot;&gt;Last November, the palm oil-laden tanker Biscaglia was hijacked by Somali pirates in the Gulf of Aden and diverted to the coastal waters near the notorious pirate town of Eyl. (&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;The Wall Street Journal&lt;/i&gt; profiled the efforts to rescue the crew and save the ship in this&amp;nbsp;Jan. 31 story.)&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; LINE-HEIGHT: 115%; FONT-FAMILY: &#39;Arial&#39;,&#39;serif&#39;&quot;&gt;Immediately upon receiving news of the hijacking, Biscaglia&amp;#8217;s owner, Stamford, Conn.-based Industrial Shipping Enterprises (ISE), called in Lawrence Rutkowski, head of Seward &amp;amp; Kissel&amp;#8217;s &amp;nbsp;maritime and transportation finance group, and a self-described ISE &amp;#8216;consigliere.&amp;#8217;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Today, &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;The American Lawyer&lt;/i&gt; gives us an inside look at the lawyers&amp;#8217; role in the affair&lt;span style=&quot;COLOR: black&quot;&gt;&amp;#8212;&lt;/span&gt;the first time a U.S. law firm advised on a hostage negotiation with Somali pirates (Apparently, the surge in piracy around the Horn of Africa has been keeping British firms like Stephenson Harwood and Holman Fenwick &amp;amp; Willan busy.)&lt;?xml:namespace prefix=&quot;o&quot; ns=&quot;urn:schemas-microsoft-com:office:office&quot;?&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;serif&#39;&quot;&gt;After two months of tense negotiations, ISE arranged ransom by airdrop.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;An undisclosed sum of money was placed in a tube with a parachute and dropped into the ocean.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The&amp;nbsp;pirates then retrieved the ransom using the same boats they used to hijack the tanker in the first place. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;In addition to the ransom details (&amp;#8220;It was actually a very straightforward contract&amp;#8221;), the Seward &amp;amp; Kissel team faced a thorny tangle of issues: insurance (including &amp;#8216;kidnap and ransom&amp;#8217; coverage), communications with tanker cargo stakeholders and their underwriters, as well as myriad relevant regulatory concerns, including&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;the Foreign Corrupt Practices Act and U.S. Treasury Department&#39;s Office of Foreign Assets Control.&lt;p&gt;&lt;p align=&quot;right&quot;&gt;-posted by brian&lt;/p&gt;&lt;p&gt;&lt;img style=&quot;BORDER-RIGHT: 1px solid; BORDER-TOP: 1px solid; BORDER-LEFT: 1px solid; BORDER-BOTTOM: 1px solid&quot; height=&quot;88&quot; src=&quot;http://tbn1.google.com/images?q=tbn:ZgbF_dWskFfnAM:http://www.virginmedia.com/images/long-john-silver_net5.jpg&quot; width=&quot;126&quot;&gt;&lt;/p&gt;&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 10pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;serif&#39;; mso-no-proof: yes&quot;&gt;&lt;v:shapetype id=&quot;_x0000_t75&quot; coordsize=&quot;21600,21600&quot; o:spt=&quot;75&quot; o:preferrelative=&quot;t&quot; path=&quot;m@4@5l@4@11@9@11@9@5xe&quot; filled=&quot;f&quot; stroked=&quot;f&quot;&gt;&lt;v:stroke joinstyle=&quot;miter&quot;&gt;&lt;/v:stroke&gt;&lt;v:formulas&gt;&lt;v:f eqn=&quot;if lineDrawn pixelLineWidth 0&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;sum @0 1 0&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;sum 0 0 @1&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @2 1 2&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @3 21600 pixelWidth&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @3 21600 pixelHeight&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;sum @0 0 1&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @6 1 2&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @7 21600 pixelWidth&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;sum @8 21600 0&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;prod @7 21600 pixelHeight&quot;&gt;&lt;/v:f&gt;&lt;v:f eqn=&quot;sum @10 21600 0&quot;&gt;&lt;/v:f&gt;&lt;/v:formulas&gt;&lt;v:path o:extrusionok=&quot;f&quot; gradientshapeok=&quot;t&quot; o:connecttype=&quot;rect&quot;&gt;&lt;/v:path&gt;&lt;o:lock v:ext=&quot;edit&quot; aspectratio=&quot;t&quot;&gt;&lt;/o:lock&gt;&lt;/v:shapetype&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: &#39;Arial&#39;,&#39;serif&#39;&quot;&gt;Opposing counsel employed hardball tactics.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;&lt;/span&gt;

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