Arbitration court suspended bankruptcy case against navy shipyard

Publish date: March 6, 2006

The Murmansk region arbitrary court decided to suspend the bankruptcy case against navy shipyard no.82 situated in the closed military zone Severomorsk on the Kola Peninsula.

The chief engineer of the shipyard Vadim Churikov said to Interfax that the court recognised the necessity to make additional examination of the situation, due to the defence significance of the shipyard.

The same situation is with another navy shipyard no.10 in Polyarny in Murmansk region. The shipyard’s management said the enterprise can be taken out of the navy control and transferred under the Nerpa shipyard jurisdiction, Interfax reported. This could help to improve the financial situation at the shipyard no.10.

Today the military shipyards in Murmansk region owe $45m to the state budget. The average age of the workers is 40 years and the assets are 50% worn out. The shipyards are in fact bankrupts. The representative of the Murmansk administration said to the Interfax agency, that the shipyards are the city-forming companies in the closed military towns and their closure could greatly damage the defence capability of the country.