Ship funds: Fehn fleet Fund according to media reports current in financial difficulty the Fehn fleet Fund are in financial difficulties. The reason is they are still ongoing crisis on the ship market, falling Charter rates and the receding demand for cargo ships. The Fehn fleet Fund Schiffahrts GmbH & co. KG is a so-called Fund of funds, which is composed of a total of five ships. MS Fehn Mistral ships, MS Fehn Antares, MS Fehn Castle, MS Fehn Sirius and MS Fehn Mirage were built in the years 1993 to 2008 and purchased for a total of about 11.24 million. The equity ratio amounted to around 12.2 million euros at the time of the first mission, whereas amounted EUR 19.8 million debt. Investors can dissolve at the end of the year 2017 by the company by ordinary termination. Currently, the Fund is in a tense economic situation.
Already since the year 2009, the investors receive not the freaking once distributions more. Falling Charter rates are the reason. These in turn caused by the decline in demand and the overall poor situation on the ship market. A corporate restructuring, with 9% of the dividends are to be paid back by the investors and 5% provided new capital of these is scheduled now. It is questionable whether this concept is successful.
Among the lenders, there is currently a large uncertainty. Affected investors the Fehn fleet Fund can claim in this situation may damage claims. Such claims arise from incorrect advice and/or prospectus errors. A wrong advice is given, if the investor with the procurement of a ship Fund participation in the consultation does not or not sufficiently is have been told about the risks of the investment. Prof. Dr. Thieler – Prof. Dr. Boh – Thieler – Seitz contact: Rechtsanwaltsgesellschaft mbH Stefan A. Seitz Attorney and lawyer specializing in banking law and capital market law Ward Councillor Juan Street 80 81379 Munich Tel.: 089/72 30 87 65 fax.: 089/55 03 80 8 E-Mail: Internet: is the firm for decades in the focus in the active capital investment law. Concerned investors will receive expert advice in the different areas of law. The author is lawyer and lawyer specializing in banking law and capital market law and has represented numerous investors to banks and financial institutions in many years.