After that, the bondholders turned the thumb down for the last redningsplanen on obligasjonseiermøtet Wednesday, alerts Havilah, Thursday that banks now put hard against hard.
In an announcement type it in the crisis-hit company that it has “received underrretning about the intention of the declaration of breach of contract”, from the hedged banks.
does this Mean in plain language that the banks will turn the company bankruptcy whether or not the proposal is accepted?
” That’s what the message says, confirms ceo Njål Sævik, to E24.
Beyond this do not want Sævik to comment on the message.
Thus increasing the pressure on the unsecured bondholders, who disagree in the proposal to redningsplan that the company put forward the 9. november, because of the distribution of the values.
The unsecured bondholders have not been available Thursday.
the Case continues below the advertisement.
– Hope the best
– It is the worst, that we go around all together and do not know if we have a job for christmas. We would like to have this settled, ” says a union representative Gunnar Helgeland in Havilah, Shipping to E24.
Helgeland represents the Norwegian seaman’s union and is currently on board the vessel Havilah Phoenix in the English sector of the north Sea.
He says that those who still have jobs in the company feel sorry for those who have lost their jobs, but that they still have a hope that the company can be saved.
We hope the best for the company, ” says Helgeland.
Havilah Shipping have worn in oljenedturen and now stands on the konkursens rand at the same time as it takes place in a grueling battle for the control and values of the company.
the Company was started by Per Sævik and the Sævik family is still the majority owner through the company Havilah Holding.
Havilah has 27 vessels that provide services to the oil industry, not only in Norway and the north Sea, but also in West Africa, South America and Asia.
the Value of the ships was estimated at 7,45 billion at the end of the second quarter. In 2014 was the value of the fleet is estimated to 8,14 billion.
Havilah Shipping let three ships laid up in november, including Havilah, Fortune, Havilah, Borg, and Havilah, Mercury, and 70 employees were laid off or fired.
the Company sold recently supplyskipet Havilah Princess to the faroese farming company Bakkafrost.
Havilah Shipping was started in 2003 and was the third company founded by Per Sævik, who is the father of the current ceo Njål Sævik. The first two were Sævik Supply and Havilah Supply. The first company was created in 1981.
the Company has hired 614 sailors, and 46 employees in the administration.
Get to the deadline
In the message is the bondholders are given a deadline to accept the proposal for the restructuring that Havilah has made.
the Company Havilah Shipping set the time limit to agree with the bondholders, in the hope to save the company from bankruptcy, but does not change the proposal its about restructuring.
the Deadline is Monday 28th. november at 12 o’clock, write Havilah Shipping.
the Company writes in a message that they secured the banks will put up in their claims, and have an intention to declare the company’s debt as defaulted.
A formal notice about this is expected shortly, according to Havilah Shipping.
the Company has received a letter from the insured banks in the community, and is aware that the secured banks are intended to accelerate their claims under the respective loan agreements, enter Havilah.
Banks including DNB, Danske Bank, Swedbank, Nordea, Garantiinstituttet Countries, Sparebank1 SMN, Sparebank1 Søre Sunnmøre, Sparebank1 SR-Bank and DVB Bank.
Disagree about values
Some of the unsecured bondholders were in disagreement about the distribution of values in the company, and rejected therefore the management’s proposals for the restructuring in a meeting Wednesday.
If not, the bondholders and the company agree on a redningsplan option is probably bankruptcy.
at the same time as Havilah is fighting for his existence on Thursday, the messages that Farstad Shipping is in agreement with the investor Kristian Siem about a redningsplan.
Many redningsplaner
A number of shipping companies and companies in oljeservicebransjen threatened by lack of money and low activity, after that the big oil companies have cut costs, something the E24 has told about earlier.
Only in Norway is expected petroleum investment to have fallen by 74 billion in three years, to 146,6 billion in 2017, according to a recent count, from Statistics Norway.
Many companies and riggselskaper spent a lot of money to expand capacity and purchase new ships and rigs during the recovery. Much of this was also leveraged, and in the past a number of companies negotiated with the creditors about easing in betalingsvilkårene.
Farstad alerts redningsplan – enters into an agreement with Siem
Havilah shares fall 5,21 per cent after the message about the banks ‘ intentions on Thursday afternoon. The trade was earlier Thursday, stopped in anticipation of a message from the company.
So far this year has Havilah shares fell around 60 percent in value, and in the course of the last two years it has been 96 per cent worth less.
Declined suggestions
– Restruktureringsforslaget, such as set forth in the notice of the obligasjonseiermøter dated 9. november 2016, has not received sufficient votes in the Seas 08 obligasjonseiermøte in the day, said the company in a stock exchange announcement on Wednesday.
Then had only 29 per cent of the owners of the bond Havi08 supported redningsplanen in a poll. But forhandlingsviljen was present in both the management of Havilah, and the unsecured bondholders who disagree in the distribution of the values of the company.
Havilas redningsplan rejected
– Havilah, invites to dialogue and negotiation, and not bankrupt as they threatened before. Now fold we up the sleeves and talk together, and hope to resolve this within a reasonable period of time, said Tom Henning Slethei, spokesman for some of the insecure the bondholders, to the E24 after a meeting Wednesday.
No comments:
Post a Comment