Damages for investors due to wrong advice and prospectus errors ‘Five in the assault on the world’s oceans’ it says on the prospectus of ship funds established by MPC CPO North America ships 2. The Fund has purchased five container ships. Investors have invested a total of approximately 83 million in the Fund, established in the year 2008. Now investors your investment fear. Ship funds as safe investment represented our clients tell us that they were recruited for the Fund by their bank and savings bank consultant with numerous arguments, presented the Fund as a safe investment: the Fund should have consistently high yield income, distributions should be independent of stock market and interest rate developments the profits should be exempt from withholding tax and it is subject to only the tonnage tax should incur no future costs for investors, the development of the US dollar is rather irrelevant to permanently higher Charter rates. Many were damages for investors due to wrong advice and prospectus errors in our experience Concealed facts about the funds, as well as the risks of participation: only 63% of investors funds used for investment purposes, the rest flowed in interim interest, commissions and various services.
Incorrectly represented exorbitantly high distribution costs by almost 25% of investors money in the prospectus. Banks have received up to 14% sales Commission and not informed customers. Concealed the risk by borrowing in Japanese yen. No information about the risks of the loan-to-value clauses in the credit agreements long capital, no secondary market for “used” Fund investments. Projected distributions were portrayed as return, this will be refunded after conception to the part of equity. Ship funds as retirement recommended although totally unsuited. No evidence of missing income security as a result of fluctuating Charter rates.
Instead, the false impression was conveyed by the reference to the independence of stock market and interest rate fluctuations by security. Investors of the MPC Fund CPO North America ships 2 GmbH & co. KG, by their Consultants or have been incorrectly advised by banks and savings banks, have therefore fundamentally good opportunities to enforce claims for compensation against their advisors or the founding shareholders of the Fund. Have questions to your Fund’s contribution to the MPC Fund CPO North America ships 2 GmbH & co. KG? You want to know what your chances are to enforce claims for compensation? Call us, we are happy to help you. Nittel Banking and capital market law firm contact Mathias Nittel, lawyer specializing in banking and capital market law, Michael Minderjahn, lawyer Heidelberg: Hans-Bockler-Strasse 2 A, 69115 Heidelberg phone: 06221 915770 Fax: 06221 9157729 Munich: residential street 25, 80333 Munich Tel.: 089 25549850 Fax: 089 25549855