Croatian shipyard 3 Maj has had its bank accounts frozen following legal action from an unnamed creditor.
The shipbuilder, part of the Uljanik Group, said the move was temporary due to enforcement proceedings.
3 Maj said in a filing it has taken appropriate legal action, since it does not recognise the respective claims as overdue and expects the issue to be resolved within a reasonable period of time.
Uljanik Group is undergoing bankruptcy restructuring, but 3 Maj is not included.
Croatia decided earlier this year to issue guarantees for a $22m loan to the yard from the state-owned development bank HBOR to 3 Maj to allow it to complete vessels.
Canada's Algoma Central Corporation has revived a previously cancelled bulker order there as a result.
