Germany-based MV Werften Files for Bankruptcy
Bankruptcy Announced by Cruise Ship Builder MV Werften
In 2016, Genting Hong Kong acquired three shipyards in Germany and formed MV Werften, the cruise ship builder which has been producing luxury yachts regularly until the Covid-19 pandemic was introduced to the world which in turn has disrupted and slowed operations for the company.
MV Werften ultimately filed for bankruptcy on January 10 after financing negotiations failed with the owners, Genting Hong Kong and the German government which some 2,000 employees the move affects.
While building a “Global Class”, Dream Cruises cruise ship, the government and shipyards owner Genting Hong Kong were reported to have been unable to reach an agreement in regards to the financing of the remaining portion of construction.
