Creditors of insolvent German shipyard Flensburger Schiffbau-Gesellschaft (FSG) will soon be able to lodge claims against the company.
Formal insolvency proceedings will open on 1 August at Flensburg District Court, the shipbuilder said.
FSG had applied for self-administration in April after experiencing delays to its orders.
The yard was placed in debtor-in-possession management under the oversight of an insolvency monitor.
The shipbuilder has since seen all remaining vessel contracts cancelled.
Still trying to find a buyer
FSG's insolvency administrator told TradeWinds that the opening of proceedings means creditors can file claims while the yard continues to try to sell the company "in part or in whole".
The administrator has previously said it was in negotiations with Russian-owned compatriot shipbuilder Pella Sietas.
The workforce was told of the new developments on Tuesday.
"We are currently setting up a transfer company and will draw up knowledge and competence profiles together with all employees as part of their individual potential analysis," FSG added.
The administrator explained that this company is important for the futures of its employees, "since it is not clear whether and how many employees will remain at the yard in the event of a sale".
Creditors offer to complete ropax
In June, creditors made an offer to FSG's unnamed lender to complete a $223m LNG-fuelled ropax cancelled earlier that month by Brittany Ferries.
The 42,400-gt Honfleur, which had been due for delivery in June, was FSG's last contract.
FSG has said the ship will not be ready for another 11 or 12 months, however.
Also in June, Irish Continental Group cancelled another ropax on order at the yard. The 67,300-gt ferry had been due in September.
In February, Australia's TT-Line, the Tasmanian state-owned ferry operator, cancelled a deal for two 48,000-gt ropaxes at FSG, switching it to Rauma Marine Constructions in Finland.
The company said the move was made because of FSG's delays in the building of other ships and uncertainty over its finances.
