Tag Archives: Premier Exhibitions

Titanic Exhibition Coming To Richmond, Canada

Image:Premier Exhibitions

According to Richmond News, Titanic:The Artifact Exhibition will be at the Lipont Centre in Richmond, Canada from 23 June 2018-11 Jan 2019. The newspaper reports that that Lipont was selected because of its spaciousness and convenient location. Toni McAfee, executive director of Lipont Centre, told the newspaper: “At Lipont Place the Titanic exhibition will find a natural home allowing both the venue and the exhibition to make their debut in Metro Vancouver,” says McAfee. “We look forward to welcoming all visitors, local and international, to the magnificent space and this world-class exhibition.”

Details on hours of operation and costs can be found at titanicvancouver.com.

Source:World-class Titanic exhibition comes to Richmond (Richmond News,30 April 2018)

Premiere Exhibitions Update:Mediator Report Filed

The mediator appointed in the Premier bankruptcy proceedings has filed a report with the court. The report states in part:

Significant progress was made in reaching agreement among a number of the parties on a path for exiting the Chapter 11 cases. However, certain of the parties are continuing their dialogue in an effort to reach closure on some important remaining issues. The parties have requested the mediator to maintain the confidentiality of the nature and extent of settlement until the finalization of agreements between some or all of the parties, particularly in light of the fact that equity securities of Premier Exhibitions, Inc. are publicly traded.

The full report can be read here.


Titanic News for 20 Feb 2018;Titanic Hotel Reopening, Titanic Costume Exhibit, and Update on Premier Exhibitions

RMS Olympic First Class Lounge (1912)
Photo: Robert John Welch (1859-1936), official photographer for Harland & Wolff
Public Domain

Titanic Hotel’ In London With Same Dining Room As The Fateful Ship Reopens After £85M Makeover (The Sun, 16 Feb 2018)
IT’S been 106 years since the Titanic sunk after striking an iceberg in the Atlantic Ocean. And now a hotel with strong links to the tragedy is due to reopen after a huge £85 million refurbishment – a day after the anniversary of the sinking of the ship.The former Hotel Russell in London’s Bloomsbury has been renamed Principal London, and reopens its doors on on April 16. The Grade II listed building was designed by Charles Fitzroy Doll in 1898, and the ornate dining room on board the Titanic, also designed by him, is said to be a replica of the hotel’s. Several passengers on the ship also stayed at the hotel before they set sail on the Titanic from Southampton. There’s also a bronze dragon in the hotel that’s the twin of one that went down on the ship.

Titanic Costume Exhibit Woven Into Vanderbilt Family History At Biltmore(16 Feb 2017,Citizen Times)
With its new exhibition of costumes from the movie “Titanic,” Biltmore brings its costume shows back from England and Europe and lands its guests squarely in America. It’s an emotional homecoming that’s deeply personal for Biltmore’s founder. After all, George Vanderbilt had tickets on the Titanic for himself and his wife, Edith, in early 1912. “We have it in writing,” notes Biltmore associate curator Lauren Henry. “It’s not a legend, it’s a fact that Mr. and Mrs. Vanderbilt were booked to be on Titanic.”

Clerkenwell Titanic Victim Signed On The Day Liner Left(Islington Tribune, 16 Feb 2018)
Among them was Everett Edward Elliott, who lived in Wilmington Street, Clerkenwell. At only 24 years of age, he signed on as a trimmer on April 10, 1912, on the morning the Titanic left Southampton. His body, recovered by rescue ship Mackay-Bennett, lies in Halifax municipal cemetery.

Premier Exhibitions Bankruptcy Mediator Sought(Bankrupt Company News,16 Feb 2018)
Premier Exhibitions and its official committees of equity security holders and unsecured creditors filed with the U.S. Bankruptcy Court a joint motion for appointment of mediator and to schedule mediation. The motion explains, “The Parties believe it is in the best interest of the estate to mediate any and all matters arising out of or related to the Plan or any other restructuring or liquidating plan, any restructuring and liquidation options and alternatives, the sale of the Debtors’ assets, and any related issues that the Parties agree to mediate. The Parties believe that mediation will help avoid a prolonged confirmation fight among them.”

The Titanic Museum Hosts Secret Dinner Parties You’ve Got To See To Believe(15 Feb 2018, Delish)
It’s a striking sight, for sure, but then again, just beyond it is a massive castle, an inn where it’s Christmas year-round, and a towering King Kong climbing a cartoonish copy of the Empire State Building. No, I’m not tripping. This is Pigeon Forge, TN, home to Dollywood, wax museums, and every kind of tourist attraction imaginable — but I’ve got my sights set on the unsinkable ship that, tragically, sank more than 100 years ago. There’s a secret dining room inside that serves a three-course meal worthy of the White Star Line, but only for groups of 35 or more.


Update on Premier Exhibitions Bankruptcy:Auction Canceled

The saga of the Premier Exhibitions bankruptcy has taken another turn. An auction that was set for February 6 has been canceled. According to the press release, the reason given is to discuss further with stakeholders the best path forward. However a new twist has emerged that prompted to cancel.The National Maritime Museum of Greenwich has filed a motion to move the action to the federal court in Virginia where the salvage award was made. Another group called the Ad Hoc Equity group is also filed a motion objecting to the sale.

Until the motions are heard and decided upon, Premier decided to withdraw the sale. The first motion by the National Maritime Museum is the most serious of them. They are trying to argue that due to the special and unique nature of Premier holding Titanic artifacts in which a salvage award was made by another federal court that it ought to have primary jurisdiction in this case. The objection to that is that court is not bankruptcy and has no business handling such matters. Bankruptcy is very different from salvage with its own laws and procedures. This motion will chew up lots of time and depending on how the decision comes down, drag this into the appeals court.

The other possibility is that those in charge will throw up their hands, declare they cannot reorganize under these circumstances, and go into Chapter 7. Which means complete liquidation of the company and selling all assets to pay creditors and stakeholders.

Not a Happy Christmas for Premier shareholders hoping for some return on equity in the near future.

Source: http://globenewswire.com/news-release/2017/12/19/1266088/0/en/Premier-Exhibitions-Withdraws-Sale-Procedures-Cancelling-Planned-Auction-of-Company-Assets.html


Premier Exhibitions Update: Auction Date Announced

Titanic Wreck Bow
Image: Public Domain (NOAA-http://www.gc.noaa.gov/images/gcil/ATT00561.jpg)

According to a press release issued by Premier, the company has proposed February 6, 2018 as the auction date of company assets. This sale, subject to court approval, will allow bidders to purchase the company or its assets. Included in this auction are Titanic artifacts. However the company maintains the right to designate a stalking horse bidder before the auction deadline.

Sources: Premier Exhibitions Proposes Date of February 6, 2018 For Auction of Company Assets (Press Release, Premier Exhibitions, 15 Nov 2017)

Motion To Grant Auction Submitted To Bankruptcy Court

Major Decision in Titanic Bankruptcy

The bankruptcy proceedings of Premier Exhibitions have been lumbering on for a while with not much to report on. But on 17 August a major decision was made. Premier decided to put up for sale a certain set of artifacts known collectively as the French Artifacts. These artifacts were brought up as part of a joint project but were excluded from the salvage award currently in place as they were property of the French government.

Premier filed to put these up for sale. Papers were served on French Embassy notifying them of the claim and their right to challenge it in court. Well they did not do so. As a result a default judgment has been entered against them with a finding that France had no interest in the French Artifacts. After some formal paperwork is done, the next step will be to come up with a satisfactory method of auctioning them off so that debts can be retired and creditors paid.

The artifacts covered under the current salvage award are unaffected by this decision.

 

 

Premier Exhibitions Update: Artifact Bidders Confirmed

Titanic Leaving Queenstown 11 April 1912. Believed to be the last photograph of ship before it sank.
Public Domain

Premier Exhibitions has confirmed it has received multiple letters of intent to be a stalking horse bidder for its assets which include the Titanic artifact collection. Both the company and the equity security holders committee will assess the bidders qualifications and announce on 25 September 2017 who the stalking horse bidder will be. An auction, if needed, will occur by 30 November 2017 and other bidders will be able to bid at that time.
Source: Premier Exhibitions Titanic Artifact Bidders Confirmed (bankruptcompanynews,26 Jul 2017)


Titanic Weekly News Roundup

August is nearly here and summer is in full bloom. Titanic news has been quiet. There are still news stories out there about the Premiere Exhibitions bankruptcy and the possible sale of Titanic artifacts.  Analysts hope Premier  is able to get out of the hole it is in. Ditto for the shareholders who are hoping that at long last perhaps the company will get back on track.

Of course the debate raging in some circles is over Titanic artifacts. Premier has a difficult time trying to sell them before as the salvage award restricts their sale and it comes with restrictions for the buyer. James Cameron is diving into the fray trying to raise money to buy them. The best outcome might be for some government or government backed entity to buy them. The huge price tag keeps most museums and institutions from really pursuing the matter. Of course all bets would be off should Premier decide to liquidate rather than reorganize.  And no one is talking about that right now.

The International Ice Patrol has for a long time depended upon planes to spot and help track icebergs. Their work is very important for everyone who transits across the North Atlantic. And thanks to their work, the threat of icebergs to ships has been greatly reduced. Now they are making changes. Instead of flying planes as much, the Ice Patrol is implementing the use of satellite technology to detect and monitor icebergs. The problem though is that satellite images only detect icebergs only 50% of the time compared to using planes. For the moment a combination of planes and satellite images are going to be used to monitor icebergs. (Keeping an Eye on What the Arctic Throws Down Iceberg Alley,newsdeeply.com,21 July 2017)

Molly Brown was one of the people that became well known after Titanic sank. Her 150th birthday was recently celebrated at her home in Denver, Colorado. As befitting her style, it was celebrated as a block party. Food, entertainment and tours of her home (now a museum) were done. She was quite a gal.

Have a great Sunday everyone.


Weekly Titanic News Roundup

Plaque To Commemorate Hatfield Man Who Died On Titanic(Welwyn Hatfield Times,15 Jul 2017)
The council’s Blue Plaque Scheme aims to promote the recognition and awareness of people, places and events which have been of lasting significance to Hatfield. Town council leader Lenny Brandon said: “I’m extremely pleased to introduce this exciting new initiative to Hatfield.” It is hoped that Joseph’s official plaque will be unveiled in the town later this year.Further details about the scheme can be found on the council’s website www.hatfield-herts.gov.uk

£28 Million Titanic Hotel Unveiled(Irish Times,5 Jul 2017)
Harcourt Developments is behind the 119-bedroom Titanic Hotel Belfast in the former Harland & Wolff drawing offices, where the plans for the Titanic itself were dreamt up in the 1890s. It will be the eighth hotel in the multi-million pound company’s portfolio, sitting alongside a collection of properties in locations from Liverpool to the Caribbean. Harcourt – who’ve been front and centre of the Titanic Quarter regeneration over the last decade – flung open the showpiece hotel’s doors to the media ahead of letting its first overnight visitors (rooms start at £160 a night) get their heads down from September 10.


Former Titanic Drawing Rooms Restored(BBC News, 4 Jul 2017)
A £5m renovation project has restored the historic drawing offices at Belfast shipyard where plans for the Titanic were made. The two arched rooms were at the heart of the old Harland and Wolff headquarters building.

Thousands Of Titanic Artefacts To Be Sold After Owner Goes Bankrupt (antiquestradegazette.com,4 Jul 2017)
Experts predict it is unlikely the court will allow a public auction and instead the items will have to be sold to an institution. However, if they were to come to auction it is likely UK auction firm Henry Aldridge & Son in Devizes, which holds regular Titanic memorabilia auctions, would be among the auctioneers considered for the job.

Titanic: The Artifact Exhibition Opens at the Prestigious Guangdong Museum in Guangzhou, China (Premier Exhibitions, 3 Jul 2017))
Premier Exhibitions, Inc. (OTCQB:PRXIQ), announced today the opening of Titanic: The Artifact Exhibition at the Guangdong Museum in Guangzhou, China. This remarkable 20,000 square foot exhibition, is one of the largest in the Company’s history, with more than 300 artifacts and brand-new room re-creations. This is the first time the Company has presented Titanic: The Artifact Exhibition in a Tier 1 museum in China. The exhibition opening was made possible through the generous support, assistance and presence of the Minister of State Administration of Cultural Heritage and representatives of the Department of Culture of Guangdong Province.


Premier Exhibitions Update

Premier Exhibitions has filed  monthly operating reports from 1 Dec 2016-20 Dec 2016 with the Bankruptcy Court and with U.S. Securities and Exchange Commission(SEC). Due to being in bankruptcy, the usual reporting to SEC has been suspended for Forms 10-K and 10-Q. Copies of the monthly operating reports submitted to the Bankruptcy Court will be reported to the SEC in Form 8-K

January 26, 2017
Premier Exhibitions 8-K:
https://www.sec.gov/Archives/edgar/data/796764/000117184317000473/f8k_012517.htm

List of Exhibits 99.1-99.8
https://www.sec.gov/Archives/edgar/data/796764/000117184317000473/0001171843-17-000473-index.htm

It is dry stuff to read but it is important to read these materials to know what is going on. Pretty sure even the attorneys and accountants who go over this stuff have their eyes glaze over as well.