Creditors of Romania’s Mangalia Shipyard reject reorganization plan, bankruptcy and liquidation to begin
CITR, the judicial administrator of the Damen Shipyards Mangalia, announced on Monday, April 6, that creditors of the company rejected its reorganization plan at the last meeting, marking the transition of the shipyard into the bankruptcy…
Radu Dumitrescu · Journalist
· Updated · 2 min read
CITR, the judicial administrator of the Damen Shipyards Mangalia, announced on Monday, April 6, that creditors of the company rejected its reorganization plan at the last meeting, marking the transition of the shipyard into the bankruptcy stage. As a result, activity will be stopped, and liquidation will begin.
The reorganization plan aimed to identify a strategic investor to take over the shipyard’s activity and ensure the financial resources necessary for its relaunch. The rejection of the plan obliges the judicial administrator to notify the court, which will decide on the opening of bankruptcy proceedings and the next steps in carrying them out.
