Update On Insolvency Of FSG-Nobiskrug Shipyard

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, with provisional administrators working on restructuring solutions. Efforts are being made to secure wages, engage with clients for ongoing projects, and explore interim financing options. The goal is to ensure the continued operation and success of the shipyards in Schleswig-Holstein.

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Insolvency Threatens Damen Mangalia Shipyard’s Future

The dispute between Damen and the Romanian government over the Mangalia shipyard escalated as insolvency proceedings were initiated. Damen, which took control in 2018, faced challenges due to industry downturn and government interference. The court aims to define a recovery strategy for the yard, once a thriving joint venture with Daewoo, now struggling in a competitive market.

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