The Greek government has moved to have the countrys largest shipyard Hellenic Shipyards declared bankrupt. The insolvency proceedings were filed under the country’s revised bankruptcy code, which foresees the rapid sale of assets and the withdrawal of old shares.
The governments petition has brought a strong reaction from the yards owner, Privinvest Group of Lebanon and yard workers trade unions. One of the largest facilities in the Mediterranean, the Skaramanga-based yard has been virtually closed since 2014 with workers claiming back pay.
The petition was filed in an Athens first instance court in the wake of a decision by the International Arbitration Court of the International Chamber of Commerce (ICC) which ordered Greece to pay betw…
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