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Oceanteam fails to finance costs

Oceanteam fails to finance costs
Dutch offshore vessel operator Oceanteam BV has filed for bankruptcy because it cannot finance the costs of an arbitration battle over problems with building an offshore windfarm.

Dutch offshore vessel operator Oceanteam BV has filed for bankruptcy because it cannot finance the costs of an arbitration battle over problems with building an offshore windfarm.

Dutch offshore vessel operator Oceanteam BV has filed for bankruptcy because it cannot finance the costs of an arbitration battle over problems with building an offshore windfarm.

The Dutch subsidiary of the Oslo-listed vessel owner Oceanteam ASA filed its bankruptcy at the District Court of Amsterdam to protect the parent of the arbitration costs.

The parent company decided it should stop financial support to the Dutch company ?in order not to interfere with the ongoing restructuring process?.

www.TurkishMaritime.com.tr

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