The bankruptcy proceedings against the shipyard in Kraljevica were formally launched at the Rijeka Commercial Court on Tuesday, and the next hearing was set for 14 November.
The court's judge Vera Jelenovic told the press that Marija Ruzic was appointed as bankruptcy trustee for that insolvent shipyard.
The bankruptcy proceedings were initiated after it was established that the dock was over-indebted with its outstanding liabilities reaching HRK 1.3 billion and the value of its property being appraised at HRK 100 million.
The shipyard's debts to the state are HRK 1.2 billion, with the lion's share of that sum being the liabilities to the finance ministry, and the rest refers to claims by suppliers.
The claims by workers and their severance packages were paid to them this June.
This March, the cabinet led by Prime Minister Zoran Milanovic opted for a bankruptcy petition, and the shipyard's employees were paid from the state budget in May. They signed contracts on transferring their claims in the company onto the state. They were given 6,400 kuna per each year of service in the dock.
