Croatian shipowner Alpha Adriatic has disputed the amount shipbuilder 3 Maj is seeking in compensation in a court case.
Alpha, which was until recently called Uljanik Plovidba, is facing legal action over a vessel order project at its compatriot shipbuilder.
It in a statement it said that, "in the interest of providing accurate information to the investors", it was correcting inaccurate domestic media reports that the amount at issue was HRK 150m ($22.38m).
"Aforementioned amount is entirely inaccurate and by more than HRK 100m higher than the actual claim, which fact is confirmed by the 3 Maj shipyard themselves in claim registered within the pre-bankruptcy proceedings," it added.
The company had asked for mediation in the case, but the County General Attorney Office in Rijeka turned this down, as expected, it said earlier this year.
"The company will seek protection of its interest in the court proceedings," said director Igor Budisavljeviv.
The claim was reported as worth HRK 80m at that time - compensation over a project to build four vessels at 3 Maj shipyard in 2009.
This was a collaboration with the ministry of economy, labour and entrepreneurship, and the ministry of the sea, transport and infrastructure.
Wrongful gain?
The aim was to boost 3 Maj, which was in trouble at the time.
The allegation is that Uljanik Plovidba potentially wrongfully benefited from the deal under a previous boss.
The yard is not listed as having built any such ships for Uljanik Plovidba.
In October, banks walked away from the shipowner's refinancing talks and arrested one of its tankers, prompting the company to file for "pre-bankruptcy" proceedings.
The syndicate of international lenders, led by Credit Suisse, made the move "without any prior notice", the tanker and bulker operator said.
Talks had been ongoing with Uljanik, but the "unilateral" decision by the banks allowed them to arrest the 53,000-dwt Pomer (built 2011) to secure the outstanding debt, the owner added.
The vessel is currently anchored in Singapore.
