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German shipyard has collapsed and 2,000 employees need payment

German shipyard group MV Werften is insolvent. Designated administrator works to secure payment for 2,000 employees from the German state as well as a potential reconstruction.

Photo: Annegret Hilse/REUTERS / X06848

German shipyard group MV Werften with a staff of 2,000 has filed for bankruptcy. A provisional administrator is working intensely to get pay for the employees, which have not received their December salaries.

So it says in a press release by lawyer Dr Christoph Morgen of law firm Brinkmann & Partner, which have been put in as provisional administrator in the cracked shipyard group.

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