Challenges for German Based Ship Investment Funds Solved

By Dirk Lahmann and Tobias Verlende, Brinkmann & Partner Solicitors

German based closed-end Investment Funds (mostly via the legal structure of Limited Partnerships with a Limited liability Company as General Partner: GmbH & Co. KG) have been an important financing source for the global shipping industry. The volume of equity placements over the past ten years totalled to an aggregate of approximately EURO 23 billion with an annual peak level of approximately EURO 3.6 billion in 2007.

The dramatic change in the world economic climate and the corresponding deteriorating freight rates over the past months have driven many proud ships into dangerous waters. If they do not take resolute restructuring steps soon and immediately secure their implementation, it is foreseeable that many Ship Investment Funds will financially run

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