Commercial Court in Rijeka has not initiated pre-bankruptcy procedures for 3rd of May shipyard

The Commercial Court in Rijeka did not initiate pre-bankruptcy procedures for the 3rd of May shipyard today, even though the FINA financial agency proposed bankruptcy for the Rijeka shipyard due to the fact that its bank account has been blocked for more than 120 days.

An emergency shareholders assembly was which, among others, representatives from the Uljanik group and 3rd of May director Maksimilijan Percan attended. The company statute was changed to introduce a multi-member board, however Rijeka Mayor Vojko Obersnel and the President of the 3rd of May Union Council Juraj Šoljić said that shareholders reacted too late.

“I personally think, and I said this at the assembly, that the assembly was held at least a year too late. It is a completely strange and unnatural situation. A company that has completed a restructuring program and become a component part of the Uljanik group, with quite a sum on their bank account, is today in a situation where it is on the verge of bankruptcy, while its owner is having problems but is not on the verge of bankruptcy. I expect in the next month or two that the process will last, that they find a way to avoid bankruptcy of the 3rd of May,” said Rijeka Mayor Vojko Obersnel.

“It's way too late. More than 500 people have already left the 3rd of May and I am afraid that, after these holidays, there will be an even bigger exodus from the 3rd of May. Firstly I appeal to the Economy Ministry and potential offerors to provide their offers by the 24th or 25th of January, so that this agony finally ends and we begin to build these ships we have at the 3rd of May,” said the President of the 3rd of May Union Council Juraj Šoljić.

Source: HRT