Forty days to get the Barreras bills out of the drawer

“The enormous importance of both processes for competition is evident, as their amount will adversely and adversely affect the expectations for the collection of supplier loans and, where appropriate, the accrued expectations for the provision of labor services.” Regarding the ongoing lawsuit against Havila Kystruten and Naviera Armas at the shipyard, The report of the bankruptcy administration of Hijos de J. Barreras in charge of director Tahice Legal. Both processes add 70m euros in demand.

Completion of the sale of the manufacturing unit to Grupo Armón will inject just over ten million into the Barreras fund after compensation for one hundred workers affected by ERE and allow loans classified as ordinary to be undertaken. fully loaded. Unpaid invoices of € 9.6 million mainly correspond to the work of these two disputed contracts. The problem is, there is a real possibility for the helpers to stay as they are: with nothing.. On 11 July, it will be held in the United Kingdom (the High Court of England and Wales) to determine whether Havila is right, and the shipyard from Vigo is required to return 36.8m euros plus interest and 20m euros to the Norwegian shipping company. more for the two ships he didn’t take. 40 days left.

Maessa, a subsidiary of the ACS group, that was most affected by the lack of payment for steelwork in Buildings 1710 and 1710, was once christened cruise ships. Pollux Y polar bear. Barreras accuses Havila of breaching the contract as it was left without a financing plan and delayed payments, so both constructions have been paralyzed on July 9, 2019 – to date. The Scandinavian shipping company reacted with a preliminary agreement. Russian state agency GLTK with another ship, which was prevented from sailing due to the sanctions imposed on the Kremlin. The design of both ships had to be reshaped due to excess weight: each ship weighed 1,100 tons more than calculated, which increased the draft and prevented them from entering many ports on the Bergen-Karkeness route.. Havila, on the other hand, states that it was the shipyard that violated the agreement and paid approximately 37 million euros for an order that he did not receive.

Initially, the shipping company headed by Per Sævik had filed the case against the insurer, not Barreras. Had he won the process, Abarca would have had to initiate a bailout against the company. The situation changed when Douglas Prothero, then head of the shipyard, graduated from the Ritz-Carlton Yacht project that led to the eventual liquidation, filed his own case against Havila in November 2020. At that time, they made Barreras, not Abarca, the main target of the judicial process in Oslo.. It so happens that among the company’s main creditors from Vigo is the British law firm Holman Fenwick Willan, which has a loan of about 320,000 euros. It is the legal team hired by Prothero himself.

Given the uncertainty about the outcome of this legal battle, More than ten million – Armón will pay a total of 14.7 million for the facilities – must be shipped, which will remain in Barreras’ coffers after paying the ERE.It remains to be seen whether they will need to be transferred to Norway or distributed among the more than one hundred marine suppliers and their assistants affected by the fifteenth bankruptcy in the industry.

Orders are getting more expensive at rates 20 years ago

A container ship with a capacity of 15,000 TEU is 50% more expensive today than it was a year ago. Analysts at Clarkson Research, the shipbuilding industry reference company, construction costs are at their fastest rate of increase in the last 20 years and they ignore that they will slow down in the short term. given the inflationary increase in materials like steel or electricity. China’s omnipotent shipping industry is also suffering from the start of this year, and it’s not just because of costs. The heavy restrictions agreed to curb COVID resulted in a 45% drop in new orders between January and April. However, their shipyards, mostly grouped in the state holding company CSSC, maintain global hegemony without any problems.

Source: Informacion

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