Tag Archives: equity committee

Titanic News: Premier Exhibitions Bankruptcy Update, More Details On How Titanic Was Found

Premier Exhibitions Update-On May 25, 2018 the Bankruptcy Court granted the Equity Committee legal standing to pursue claims against current and former officers and directors of Premier Exhibitions. In short it means they have the ability to demand they pay damages to help reduce the outstanding debts of the company. Since they have retained counsel, it means they expect it will result in litigation to determine whether they are liable and if so, how much they will have to pay.
View original document here.
View materials on the case here.

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

New Details on Secret Navy Mission Where Titanic Was Found-Some years ago it was revealed Titanic was discovered as part of a secret Navy mission that Ballard was on. He was sent on a mission to try to find out how two U.S. nuclear submarines had sunk. Using new submersible technology Ballard found those wrecks and the approximate location of Titanic. The National Geographic Museum in Washington D.C. reveals more of the details of that secret mission. “Titanic: The Untold Story” delves into the many details that have not been publicly revealed until now.

In 1985, Ballard’s mission was to dive to depths of 9,800 feet using a towed camera system called Argo to find and document the imploded remains of the Scorpion. The objective of the mission was to locate the submarine’s nuclear reactor and nuclear weapons and to gain evidence to help determine what led to her loss. After concluding his successful investigations of the Scorpion, Ballard used the final 12 days of his expedition to discover the RMS Titanic at a depth of 12,540 feet. The following year, while the public was enthralled and distracted by the discovery of the Titanic, Ballard returned on a second classified mission to the Thresher and Scorpion.

Visitors will view artifacts, materials and photographs from the U.S. Navy Archives, and see the submersible Alvin that dived to Titanic. They will also see a variety of Titanic related artifacts from the National Archives and movie memorabilia from 20th Century Fox.

Information about museum hours of operation and tickets can be found at https://www.nationalgeographic.org/dc/.


Premier Exhibitions Update:Teneo Securities Approved As Financial Advisor

PremierExhibitionslogoAs part of the ongoing process to determine the best way to proceed with the Chapter 11 reorganization, Teneo Securities has been approved by the court to serve as financial advisor to the Equity Security Holders Committee. The firm will analyze and assess the assets and liabilities of Premier Exhibitions and advise the committee on ways to mitigate the liabilities to return the company to profitability.

Source: Stipulation Between Premier Exhibitions, Inc. and the Official Committee of Equity Security Holders 

Premier Exhibitions Update: Equity Committee Website & Letter

United_States_Bankruptcy_Court_SealThe Equity Committee, along with the Unsecured Creditors Committee has set up a website so that Premier’s equity holders can have access to important information about the case. The website is http://www.upshotservices.com/premiercommittees. A recent letter to shareholders issued by the Equity Committee can be found here: http://www.upshotservices.com/rms%20titanic%20inc/equity%20committee%20website%20letter.pdf