Croatian shipyard 3. Maj Brodogradiliste said it has filed for bankruptcy, SeeNews.com reported. On April 1, the company, as debtor, submitted a proposal to initiate bankruptcy proceedings to the commercial court in Rijeka, according to a filing to the Zagreb bourse on Friday. The company's shipbuilding business had earlier been transferred to its subsidiary 3. Maj Rijeka 1905, which became state-owned following a debt-for-equity swap worth 10.3 million euro ($11.7 million). Read more.
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