The creditors of the insolvent container lessor now have the option of quickly shelving the failed investment.
Dhe around 54,000 creditors of P&R, the insolvent provider of container investments, now have the option of quickly shelving the failed investment. The asset manager York Capital, known as a hedge fund, makes the affected parties an offer to acquire their claims.
York offers a price of 14 percent of the ascertainable bankruptcy claims, which have been determined by the insolvency administrators Jaffé and Heinke since April and sent to the investors. Payment should be made immediately and in cash.
In addition, York offers to exempt investors from any repayment claims of the insolvency administrator on rent payments in the past. Investors who accept the offer could then pass these claims on to York Capital, says lawyer Wolfgang Schirp from the law firm Schirp & Partner entrusted with the processing.
Investors could of course bet on recovering a larger part of their claims in the course of the bankruptcy proceedings. The insolvency administrators reported a few weeks ago (FAZ of October 24) that they were expecting a billion euros to be distributed with an estimated volume of claims of a little more than three billion euros.
“Ultimately, it is an individual decision that every investor has to make for himself,” says Schirp. After all, it is positive that there is now this opportunity as an alternative to further participation in the bankruptcy proceedings. Offers have been sent by post since Wednesday. Investors can also contact us via the firm’s website.