German heavy lift company Hansa Heavy Lift has filed for insolvency with the Hamburg District Court amid challenging market conditions.
The decision was allegedly triggered by the companys US-based investor Oaktree Capital Management on Monday, December 10.
Due to an extremely challenging operating environment in the global shipping industry, Hansa Heavy Lift filed for insolvency earlier today.
Funds managed by Oaktree Capital Management, have been a committed investor in the company over the past seven years and have worked tirelessly with the companys management team to thoroughly evaluate all potential strategic avenues to ensure the viability of the business, Oaktree said in a statement to World Maritime News.
However, given th…
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