Cruise Yacht YardCo is the holding company financed by the Oaktree fund and billionaire Mark Scheinberg bought 100% of the company. Hijos de J. Barreras shipyard in May 2020. This company was founded in Malta under the name RCYC Holdco but was renamed –shipyard It is a shipyard in English – when the team led by Douglas Prothero takes ownership, presidency and management of the company. It was not part of their initial plans when they landed in Vigo in 2017, with the sole aim of building an ultra-luxury cruise ship for 250m euros and options to build two more ships in Beiramar. Controlling the barriers was the only way to try to finish off the ship where they received a millionaire shield from the state and guarantees of social peace in the workforce and supplier industry.
It took Prothero seven months to prepare the escape: He would take the cruise ship to Santander under the pretext of painting it, and began preparing the orderly liquidation of the shipyard. Again company has promised to make a European reference in the boat segment prizeDuring the entire year Cruise Yacht YardCo controlled, its investment was zero. One dollar. Ninety-four cents. Almost one euro.
This is stated in the annual report of the company to which this newspaper has access, of which it is a subsidiary, and is recorded in the trade registry of Valletta, the capital of the Mediterranean island. These are the accounts of the OCM Luxembourg EPF IV Cruise Yacht Master, to which Cruise Yacht Upper Holdco is affiliated, and the accounts in which the construction payments are made for the cruise – first in Vigo, then in Cantabria. evolution.
In this case, as FARO DE VIGO of the Prensa Ibérica group has previously announced, the Prothero team has invested twice as much in Santander as it did in Galicia, despite owning the shipyard and guaranteeing at least one more luxury ship to the region. industry. In fiscal year 2021, net investment in the ship’s construction was $241 million compared to $132 million a year earlier. Beyond those related to this request and the part regarding the investment of the real owner of the shipyard, net investment amount (net investment figure) is one dollar. Ninety-four euro cents. Unless the liquidation of the public limited company is finalized—the production unit has been sold to Armón—this property is owned by Cruise Yacht YardCo.
As the same official accounts point out, for the same year 2021, This company announced a profit of $ 19.7 million. And he did so through a procedure called Hijos de J. Barreras when he filed for bankruptcy, hiring a specialist consultant (Kroll) to design the liquidation process and parallel sale of the facilities. prepack In the midst of all this corporate crowd, The Spanish State had a life risk of more than 400 million euros as a result of protecting the bank. as the transept was exposed to the construction process. The Ritz-Carlton (trademark used by Cruise Yacht) did not begin to repay the loan to financial institutions and therefore – through the Cesce organization – to reduce the State’s exposure to risk until the ship was launched in October last month. . It was two and a half years after the originally set date for the first trip.