Jones Act Discussed at Marine Money
Maritime attorney Jovi Tenev was quoted in the WorkBoat article on his moderated panel at the Marine Money Week conference that discussed the Jones Act. The Jones Act requires vessels that operate in domestic trades to be built, owned and crewed in the U.S. According to Mr. Tenev, this restriction results in legal framework challenges with foreign shareholding issues that involve bank debts converting into equity.
“We created instruments to deal with it,” said Mr. Tenev.