Insolvency proceedings: MV Werften: workforce meeting and special session in the state parliament

Bankruptcy proceedings
MV Werften: workforce meeting and special session in the state parliament

The MV Werften in Stralsund. Photo: Stefan Sauer / dpa

© dpa-infocom GmbH

What will happen to MV Werften after filing for bankruptcy? The preliminary insolvency administrator wants to comment on this at staff meetings at the three locations.

The approximately 1900 employees at MV Werften in Wismar, Rostock and Stralsund will find out firsthand on Thursday how the company will continue after the bankruptcy petition from the beginning of the week.

The provisional insolvency administrator Christoph Morgen wants to inform the employees in staff meetings about the payment of the outstanding December wages and about his further plans. Morgen has already stated that he has initiated what is known as bankruptcy pre-financing to pay wages. However, it will take a few more days for the money to reach the employees. In addition, the insolvency administrator announced that he would like to finish building the cruise ship “Global One”. The ship is 75 percent ready and is in the shipyard in Wismar. With space for almost 10,000 passengers, it is one of the largest cruise ship projects in the world.

For eight MV Werften companies, bankruptcy applications were filed with the Schwerin District Court on Monday. The Schwerin District Court appointed Christoph Morgen as the preliminary insolvency administrator for all of them. In addition, according to a court spokesman, it was decided to carry out all eight bankruptcy cases at the Schwerin District Court.

The Asian tourism group Genting Hong Kong bought MV Werften in 2016 to build cruise ships for their own use. As a result of the ongoing corona pandemic, he got into trouble with his cruise business. Trading in Genting shares on the Hong Kong Stock Exchange has been suspended since last Friday. Behind the company is a conglomerate of the Malaysian casino magnate and billionaire Lim Kok Thay.

On Thursday (1.30 p.m.) the state parliament in Schwerin will also deal with the situation of the shipyards in a special session. The parliamentary group of the Left calls for the maritime industry in Mecklenburg-Western Pomerania to be set up more broadly than before. The CDU parliamentary group accused the red-red state government and the new federal government of failing to deal with MV Werften and its parent company Genting. They were unable to address the particular difficulties faced by the shipyards and the group in the ongoing corona crisis. The AfD parliamentary group calls for a committee of inquiry into the background of the shipyard collapse.


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