Dusseldorf According to its own information, the MV Werften Group will file for bankruptcy this Monday. A shipyard spokesman told the German Press Agency that the employees were informed about this step on Monday.
MV Werften thus drew the consequences of the ongoing financial crisis, which has put the company in trouble since the beginning of the corona pandemic. The negotiations between the federal government and the state on the one hand and MV Werften and the owner Genting Hong Kong on the other had not led to a positive result. How things will go on with the last 1900 employees is an open question.
MV Werften did not succeed in securing the financing of the 75 percent finished and around 1.5 billion euro expensive new build of the cruise ship “Global Dream”. It is considered to be one of the largest cruise ships ever built and was intended exclusively for the Asian market.
The federal government had repeatedly promised to provide around 600 million euros from the Economic Stabilization Fund (WSF). The ship should be used as security for this. The owners’ own contribution was a contribution of 60 million euros plus guarantees for the federal funds in question.
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The President of Genting Hong Kong, Colin Au, had recently said that he had submitted four offers to the federal government for further funding. However, these have all been rejected. Last December, the payment of the amount due when an intermediate construction stage was reached, the so-called milestone F, was blocked.
Haake: “We worked through the conditions”
Genting could no longer make any further compromises. “We have worked our way through the federal requirements,” said MV Werften managing director Carsten Haake last Sunday.
Colin Au had pointed out that Genting had invested more than two billion euros in the MV locations out of pocket since the takeover and that the number of employees had doubled. “Without Covid-19 we would never have asked the government for a euro.”
More: Pressure from all sides – The cruise industry is getting caught up in the corona vortex