The Mangalia Shipyard goes bankrupt after the rejection of the reorganization plan

The creditors' assembly rejected on Monday the proposed reorganization plan for the Mangalia Shipyard, announces CITR, the judicial administrator of the company.

This decision marks the transition of the shipyard into bankruptcy, during which current operations will be gradually halted and liquidation procedures will be initiated according to the law. The reorganization plan aimed to identify a strategic investor for the relaunch of activities, but its rejection obliges the judicial administrator to notify the court to open bankruptcy proceedings.

The CEO of CITR, Paul Dieter Cîrlănaru, assured that all salary rights will be respected and paid according to the law. Recently, several companies, including Damen Shipyards Mangalia, have been declared of strategic interest, which allows employees to receive their salary rights from the guarantee fund. CITR will continue to inform the parties involved about the stages of the bankruptcy process, which is conducted in an orderly and transparent manner.