Bankruptcy proceedings for the Brodosplit shipyard have been suspended after the company settled its debt of €23.8 million, the president of the Commercial Court in Split, Franka Buzov, confirmed to Hina on Thursday.

Brodosplit’s account has been unblocked, and the bankruptcy opening hearing, scheduled for Friday at Split Commercial Court, will not be held, Buzov said.

“We are not giving up shipbuilding and are working on normalising our business. We have secured funding for ordinary business, unblocked our account and eliminated the reason for initiating bankruptcy proceedings,” Brodosplit said.

“We will soon secure funding for ongoing projects which have been suspended for reasons of force majeure, namely the war in Ukraine. Unfortunately, in the last two years we have lost two contracts, but we have ongoing projects and a contract for a ship for Storyline, which have filled our capacity until 2027,” the company added.