Good opportunities for the enforcement of claims for damages of the Atlantic of fleet Fund, in which investors invested about 33 million, issued in the year 2008 is according to press reports, shortly before the end. Sale of four identical chemical / product tanker MT “CHEMTRANS ALSTER” shipping company mbH & co. KG, MT “CHEMTRANS OSTE” shipping company mbH & co. KG, MT “CHEMTRANS WESER” shipping company mbH & co. KG, MT “CHEMTRANS EMS” shipping company mbH & co. KG, or insolvency of one-ship companies is the alternative. In a circular letter of the investors is the talk of a missing going-concern Outlook.
Given the disastrous situation on the ship markets, which are currently no recovery of Charter rates that an insolvency of the ships seems no longer to avoid. For the investors of the ship Fund, which was designed by the Rickmers group-owned underwriter Atlantic the total loss of their invested capital is thus probably imminent. Good opportunities for the enforcement of Claims for damages on behalf of clients involved in the Atlantic fleet Fund, we have both checked the deliberations, as also the prospectus of the Fund and our opinion found brochure defects, as well as faulty investment advice. Both justified claims for damages. Only 63.7% of investors funds used for investment purposes: the Atlantic fleet Fund has, based on the investors capital (equity plus 5% premium) on a particularly high rate of soft costs.
This was 33% according to our calculation. 1.2% were in the liquidity reserve so that only 63.7% of the money invested by the investors directly flowed into building and construction costs. Investors would need to be pointed out the extremely high proportion of investor funds, issued by including in particular over 18.2% placement expenses, not for investment purposes but for bridge financing interest (9%) and various services expressly by their advisers. In known cases was This not the case.
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