Wednesday, November 23, 2016

The bondholders said no to Havilah plans- NRK

It was the 9. november that Havilah Shipping ASA launched the plan for financial restructuring of the company. This plan has the support of the company’s hedged banks and Havilah Holding as, which is the company’s largest shareholder.

the Plan has, according to this børsmeldingen also support from the company’s unsecured banks.

It is this plan that now has not received consent from a sufficient number of the bondholders.

– It went as we said

Tom Henning Slethei, one of the bondholders which has been against the plan since it was launched. He was early out with the message that it would not was adopted on obligasjonseiermøtet.



bond holder Tom Henning Slethei is satisfied that it is not to talk about konkursfare.

Photo: progress party

It was such as we had said, say Slethei.

Now is Slethei keen to continue a constructive dialogue with both the owners and the banks where the goal is to find a good solution for the further operation of the company.

He will not go more specifically into the details of these talks, but he is pleased with the fact that it doesn’t say anything about konkursfare in the børsmeldingen that the company has sent out.

No new konkurstrussel

– Havilah, Shipping had been threatened with bankruptcy if this happened. There is not now, and we are happy, ” says Slethei.

In børsmeldingen from Havilah Shipping which came just after today’s obligasjonseiermøte, among other things, that the company will continue a close dialogue with the banks and secured and unsecured bondholders, with the purpose to be able to present a revised proposal within a short time.

After the NRK understand sitting the management of Havilah, now collected in the meeting, but currently it has not been given any commentary beyond what it says in the børsmeldingen.

In the message it says also that the Havilah, Shipping will continue the business. It also applies to the continuous and safe operation of the vessels against all kontraktsmotparter and operation of suppliers of goods and services.

the Havilah, do not believe in the plans

Havilah Shipping has previously claimed that the restructuring plan to the bondholders will not get the support of insured and uninsured banks, and that it therefore will not be able to be carried out, even if the plan was to get votes in obligasjonseiermøtet.

In an announcement came from the company 14. november 2016 is it that the most likely outcome for Havilah, Shipping is a petition of insolvency/bankruptcy if the restructuring plan is not approved by the unsecured bondholders.

Even if the stakeholders under such circumstances has prepared backup plans, the decision about how this should be taken further then be taken by konkursboet in collaboration with the bl.a. the secured creditors, it says in the message.

Obligasjonseiermøtet that should be between the parties on Thursday is cancelled.

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