Beluga Shipping of Bremen experienced turbulent times: After the takeover of management by the private equity firm Oaktree and the departure of former chief Niels Stolberg According to recent media reports, is now threatening even bankruptcy.
The blatant would have consequences for thousands of investors in ship funds, financed by the Beluga their ships. Behind this are many reputable investment banks such as HCl, same underwriter, ownership, Northern office and Blue Water Capital, which placed the system into the emerging and seemingly impregnable companies. Stolberg was regarded as a "genius" and was celebrated by the media and politics really what investors the investment easier.
was total for Beluga by 46 closed-end ship funds for about 15,000 investors (estimated numbers are estimates based on: 20,000 Euro per investor) has a volume of about € 314 million of investor funds collected. Oaktree is said to have asked banks and shipping funds already to give up some of their debts from loans and outstanding charter, failing which an insolvency procedure Beluga not be excluded. With almost two thirds of the Beluga, Beluga Shipping funds will either be even or subsidiaries of the Beluga, the sole charterer. A partial waiver of the Fund on them from the past or the future entitled charter income would thus penetrate fully to the investors.
If it is related to the beluga problems to the establishment of rehabilitation concepts for all or individual funds come, so it is likely that is demanded by the investors "fresh money". Even so-called "winning independent distributions, the investor may have received in the past could, under certain conditions, be recovered legally from investors. In addition to sales through the traditional provider of ship funds, the distribution of fund shares were also achieved by a Beluga own company, Blue Water Capital Inc. The consequences of this interdependence for the investor are not currently foreseeable.
what extent investors in the sale of fund shares may be incorrect and / or incomplete Information (including the integration Beluga / Blue Water Capital) were charged or otherwise held insufficient consultation is not currently in sight. Also, speculation about possible irregularities in the accounts (as the Daily harbor report of 7 March 2011) can be evaluated not yet available. In addition to press release brochure errors can cause wrong advice at the time of the sale of participation by banks or other marketing organizations to claims of investors. The BSZ association investor protection law firm KWAG already represents several thousand investors closed-end funds and ensures that the shareholder rights and possible claims against the providers, may be the sale or other persons examined carefully and then make promising claims.
concerned investors may join the syndicate BSZ eV ship Fund.
BSZ ® federation for social and civil rights consciousness eV
Lagerstr. 49
64807 Phone: 06071-9816810
Internet: http://www.fachanwalt-hotline.eu/
This text is the contribution of 03/08/2011 again. Possible future changes of the facts are not considered
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