Status: 05.04.2023 6:00 p.m
A damaged investor has filed a criminal complaint against the Hamburg shipowner Bertram Rickmers. He accuses Rickmers of cheating creditors for 36.5 million euros.
The legal tug-of-war over the billion dollar bankruptcy of Rickmers Holding AG is entering a new round. According to information from the NDR, an aggrieved investor has filed a criminal complaint against the Hamburg shipowner Bertram Rickmers with the Hamburg public prosecutor’s office. Rickmers, the creditor’s lawyers argue, wrongly initiated a tax withdrawal of 36.5 million euros from the shipping company Holding in 2015. Rickmers was thus guilty of breach of trust and fraud, according to the ad. At the request of the NDR, a spokesman for Bertram Rickmers rejected all allegations against him. Rickmers Holding had to file for bankruptcy in 2017 as a result of the global shipping crisis. Since then, numerous creditors have been trying to get back the money they had invested in the shipping company at the time.
Hamburg investor is behind the ad
The Hamburg investor Rainer Manthey is behind the ad. In the ad, his lawyers refer to a process from 2015. At that time, according to the argument, Rickmers, as the sole shareholder, took 36.5 million euros from the holding company to settle tax debts. The advert, which NDR was able to see, states that Rickmers’ actions violated Rickmers Holding’s Articles of Association, among other things. Because this only allowed Rickmers to withdraw capital from the company to settle tax debts if these were related to his participation in the company. These conditions were not met in 2015.
Rickmers confirms tax withdrawal
According to his own statements, the advertiser Rainer Manthey holds bonds from Rickmers Holding AG with a nominal value of more than 58 million euros. Manthey told the NDR that the aim of the ad was “to have actions by Bertram Rickmers, which I consider fraudulent, investigated by a competent party, ie the public prosecutor’s office.” Rickmers himself denies the allegations. When asked, a Rickmers spokesman confirmed the tax withdrawal, but explained that it was covered by the articles of association and was carried out transparently. At that time, all relevant groups, including the banks in particular, were informed in advance. In addition, several “auditing companies (…) knew the tax payments and never complained about them.”
Creditor claims of 1.1 billion euros
Rickmers Holding had its ships financed by investors. This was a common occurrence before the shipping crisis. Investors have invested a total of 275 million euros since 2013. The shipping company had promised them interest of 8.85 percent. In the wake of the shipping crisis, Rickmers, like many other shipping companies, was increasingly unable to rent out its own ships and ultimately was no longer able to meet the demands of investors. According to the Hamburg insolvency court, Rickmers creditors have registered claims of more than 1.1 billion euros.
At the beginning of the year it became known that the court had appointed a special expert in the case. He should check whether the successor to HSH Nordbank, Hamburg Commercial Bank, is liable for the claims of Rickmers creditors. At the time, HSH Nordbank had refused further financing for the shipping company. A spokesman for Rickmers explained that HSH Nordbank bears “the sole responsibility for the insolvency of Rickmers Holding”. A spokeswoman for the bank left an inquiry from the NDR unanswered and referred to bank secrecy and existing trade and business secrets.
Bertram Rickmers is still active as a shipowner. A few years after the bankruptcy, Rickmers’ new company, the Asian Spirit Steamship Company (ASSC), ordered new ships. According to the company, which is based on the Outer Alster, it now has a total of eleven ships, the majority of which are so-called feeder ships.