Pazin County Court on Wednesday decided to defer a decision to launch bankruptcy or liquidation proceedings at the Pula-based Uljanik shipyard and a decision will be made at the end of the month after a hearing is held for the Uljanik d.d. company, scheduled for October 25.

A decision will then be made based on a report by the bankruptcy trustee.

“The decision could have been one on bankruptcy or on liquidation. This decision is on the one hand positive for us although we cannot be entirely satisfied,” a member of the creditor’s board at the ailing dock and union representative Samir Hadzic said after today’s hearing.

He added that the “agony is continuing” and that Uljanik workers are very disgruntled.

Hadzic believes all decisions regarding the dock are political decision.

The leader of the Jadranski Sindikat union, Boris Cerovac, said that he is only partially satisfied with the decision but that it could have been worse.

“There were four possibilities – a decision to replace the bankruptcy trustee as was the case with the Uljanik d.d. company; liquidation; continuation of production – which was unrealistic; and deferring the decision,” Cerovac said and added that the dock’s workers were applying with the Agency for Workers Claims regarding overdue wages.

According to his estimate, Uljanik owes its workers about HRK 160 million.

Cerovac trusts that workers will be paid at least three minimum wages and half the severance pay before the end of the year.