Atlantic Fleetfunds

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 at the end. Bankruptcy petition was lodged for the four ships of the Fund. Economic operation of four identical chemical / product tanker was no longer possible due to lower Charter rates and lack perspective of continuation. The total loss of their invested capital has occurred for the investors of the ship Fund, which was designed by the Rickmers group-owned underwriter Atlantic thus. For numerous 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 investor funds were used for investment purposes, the rest was spent on soft costs, commissions and interest. Distribution costs are incorrectly shown in the brochure: the The placement cost total 5.954.000 or 18.2% of capital to be applied by the investors. It had both banks and savings banks, as also non bank-investment advisor within the framework of the consultation must expressly point out. High risk by borrowing in Japanese Yen: as a part of the funds by the Atlantic fleet Fund to be recorded in Japanese yen (JPY), the revenue of the Fund but in US $ achieved a significant currency risk ship funds due to high risks rather than retirement plans is suitable. Capital, no secondary market for “used” Fund investments of Atlantic fleet fund investors have long as a result, basically good opportunities to enforce claims for compensation against their advisors or the founding shareholders of the Fund. Do you have questions to your Fund’s contribution to the Atlantic fleet Fund? You want to know what your chances are to enforce claims for compensation?

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Thursday, May 1st, 2014 News