About — Managing Director Michael Bono
Michael Bono serves as the Managing Director of VessEx. In this capacity, his primary responsibilities
include logistical and administrative support for extraction
operations, client reporting and communications, and
protection of client interests through contractual and
As a maritime lawyer with a broad range of experience, Mr.
Bono is uniquely suited to handle these matters on behalf of
VessEx clients. Of particular interest to clients is his
experience with ship mortgage foreclosures, vessel arrests,
marine insurance, maritime contracts, and marine casualty
Ship Mortgage Foreclosures ... Of
foremost relevance to extraction operations is Mr. Bono's
experience in handling ship mortgage foreclosures on behalf of
major maritime financiers. His actions in this area
include tracking and locating subject vessels, arresting ships
in foreclosure actions, making logistical arrangements for the
maintenance of repossessed vessels and crewmembers,
negotiating settlement of, or security for, outstanding wage
claims and other necessaries liens, and arranging for the
judicial sale of such vessels.
Vessel Arrests ... Mr.
Bono has also arrested a number of vessels or secured their
release from arrest. Of interest to our clients is his
knowledge on the limits of this remedy—knowledge gained from
successfully defending wrongful seizure claims and publishing
a law review article on maritime wrongful seizure actions.
Marine Insurance ... Insurance
is another subject of particular importance to our clients on
which Mr. Bono has expertise. In this area, he has
analyzed insurance policies and drafted opinions on P&I,
Hull & Machinery, CGL, worker’s compensation and
pollution coverage matters. He has also handled
insurance coverage litigation cases on behalf of various
Underwriters at Lloyd’s, members of the Institute of London
Underwriters, and major U.S. carriers. He has also
worked with clients and their insurance brokers to ensure
proper coverage in maritime ventures.
Maritime Contracts ... Because
extraction operations often require the services and supplies
of others, Mr. Bono’s experience in contractual matters is
of particular usefulness to VessEx clients. In this
area, he has structured, drafted and negotiated a wide variety
of maritime contracts involving the operation and management
of vessels and the carriage of goods, including charter
parties, supply contracts, manning agreements, and a number of
other contracts which are relevant to recovery operations.
Marine Casualty Investigations ...
Another aspect of his experience which is relevant to our
clients’ needs is in the area of casualty investigations.
In particular, Mr. Bono has conducted on site maritime
casualty investigations and interfaced with governmental
investigative bodies, including the U.S. National
Transportation Safety Board, the U.S. Coast Guard, the
National Fire Protection Association and various local public
safety departments. Mr. Bono has also conducted on site
collision and allision investigations and interfaced with U.S.
Coast Guard investigators in such matters.
Mr. Bono has additional experience in cargo damage claims,
maritime personal injury litigation, oil spill investigations
and salvage operations. He has also published articles
and spoken on maritime subjects.
In addition to his experience in virtually every area of
maritime law, Mr. Bono holds the degree of Masters of Law in
Admiralty from Tulane University, which conducts what is
widely regarded as the foremost advanced maritime law degree
program in the world.