first_imgzoom Maritime services provider Rickmers Holding is facing insolvency after HSH Nordbank AG denied approval to the term sheet dated April 19, 2017 and rejected further negotiations of the restructuring.As a result, the term sheet, on the basis of which the bondholders’ meeting was convened, cannot be implemented anymore.According to the assessment of the management board and supervisory board of Rickmers Holding AG the positive going concern prognosis of Rickmers Holding AG does therefore no longer apply and the management board of Rickmers Holding AG is forced to file for insolvency without undue delay.The management board of Rickmers Holding AG strives for restructuring in self-administration, on the basis of continuation of business and vessel operations. The management board and supervisory board of Rickmers Holding AG have initiated corresponding preparations.In April, Rickmers Holding reached an understanding with, inter alios, HSH Nordbank AG on a term sheet regarding the restructuring of material financial liabilities of the Rickmers Group that was subject to corporate approval of HSH Nordbank AG and contingent on the restructuring of the bond 2013/2018 issued by Rickmers Holding AG.Rickmers Group has accomplished all agreed and required steps to prepare the restructuring, however, HSH Nordbank has still decided to reject the credit applications.The second bondholders’ meeting, scheduled for June 1, 2017, will now resolve exclusively on the election of the joint representative of the bondholders, the company said.last_img read more

first_imgNew Delhi: Sunni Waqf Board’s counsel and senior advocate Rajeev Dhavan on Thursday told the Supreme Court that he and even his clerk are getting threats for representing the Muslim parties in the Ayodhya land dispute case. As soon the hearing began, Dhavan told the court that a week ago, he received a threatening message on Facebook warning that “they will see him outside the court”. Moreover a minister has also said that they “own” the disputed site and the Supreme Court. Also Read – India gets first tranche of Swiss bank a/c details Some people also messaged him asking which side he was on and whether he is against the deity (Ram), Dhavan said adding that these things did not create a good atmosphere and that he is under pressure. Citing a contempt petition filed against an octogenarian for cursing him, he said that he cannot file contempt after contempt petition. Chief Justice Ranjan Gogoi strongly condemned the threat and said that this things should not happen. Also Read – Tourists to be allowed in J&K from Thursday”This should not be happening in the country. We deprecate such statements. Both sides are free to put their arguments before court without any fear,” Chief Justice Gogoi said. The court asked Dhavan whether he wants security and protection. Dhavan said that he did not need security and protection as the court assurance is enough for him. He said he had been non-partisan when it comes to arguing a case, which he did while arguing Kashi and Kamakshya cases in past. He also told the court his clerk also faces threats from other clerks and said: “Let me make it absolutely clear that I don’t argue against Hindu faith.”last_img read more