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Crisis In Ship Funds HCI Shipping Select XVII

Threatening development of Fund vessels of the Fund submitted by the listed issuer of HCI, HCI shipping select XVII is in big trouble. Two of the five ships, the HR Majesty (former MS Beluga Majesty) and the Hellespont triumph are economically vulnerable. As the Fund newspaper reported, the financing bank of HR Majesty denied a much-needed additional financing. The tanker Hellespont triumph has the search after a new charterer started after the former charterer Sanko steamship in early July has filed the creditor protection proceedings and pay more any Charter. Due to the age of the tanker the search create itself after a new charterer as little promising.

If no solutions for the acute liquidity problems of both ships is found, threatened with insolvency of both ships. Funds are not good news for the investors of the HCI. Also for the other three ships the situation doesn’t look good. The Fund newspaper reported that among them disbursements, repayments and Liquidity reserve according to current HCI current – account balance under the plan are. Apparent economic failure in this Fund? The investors of the HCI shipping select XVII are now faced with the question of the impending loss to accept, or to their money the chances to fight are. However, it is to note that threatens the limitation of damages may already be at the end of 2012. Fast action is therefore recommended.

More information about the limitation of claims by investors in closed-end funds: Office /… Good opportunities for the enforcement of claims for damages why we come to this fundamentally optimistic assessment? For many clients who are involved in the HCI of funds shipping select XVII, we have so far examined the deliberations, as well as the prospectus of the Fund and our opinion found brochure defects, as well as faulty investment advice. Both justified claims for compensation against the Adviser, Advisory banks and the Founding partner of the Fund, who are also liable under a recent decision of the BGH for wrong advice – firm/news /…