Financially troubled Danish crew transfer vessel operator World Marine Offshore (WMO) has been declared bankrupt.
According to the State Gazette, the Court in Esbjerg took the company under bankruptcy proceedings earlier this week following a petition on January 6.
John Sommer Schmidt of the law firm Gorrissen Federspiel, who is the trustee of the estate, is looking to sell the company and its assets. He told the local media that years of losses, major changes in the management, disagreements among the owners and a large claim in the US were among the reasons for the bankruptcy.
UAE-based liftboat operator Gulf Marine Services (GMS) said Friday it had outstanding receivables from WMO of about 4m under a contract to support the construc…
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