Insolvency Proceedings Begin for FSG-Nobiskrug Shipyard Group: Efforts to Protect Jobs and Projects

Insolvency proceedings have been initiated for four companies within the FSG-Nobiskrug shipyard group, including FSG-Nobiskrug Holding GmbH, Flensburger Schiffbau-Gesellschaft mbH, Nobiskrug Yachts GmbH, and FSG Nobiskrug Design GmbH. The provisional insolvency administrators, Dr. Christoph Morgen and Hendrik Gittermann, are working together to develop restructuring solutions for the shipyard group. They are focused on securing the wages and salaries of the 500 employees, with insolvency pre-financing in place to cover payments up to January 2025.

Efforts are underway to engage with clients for shipbuilding projects already in progress at the shipyard sites in Flensburg and Rendsburg. These projects include a RoRo ferry and a superyacht. The administrators plan to discuss potential interim financing options with the federal and state governments to support construction costs until the projects are completed and payments are received from clients. Additionally, they are exploring various restructuring possibilities for the shipyards to ensure their continued operation and success.

The insolvency administrators are committed to finding solutions that will benefit both the employees and the shipyard group as a whole. They are working diligently to navigate the challenges posed by the insolvency proceedings and are optimistic about the potential for restructuring and revitalizing the renowned shipyards in Schleswig-Holstein. By collaborating with clients, government entities, and other stakeholders, they aim to secure the future of the shipyard group and its employees.

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