Noryards BMV AS declares forced accord

Noryards BMV AS declares forced accord at the District Court of Bergen after it was clear sufficient funds were not made available as planned in February.

 

The company’s board and administration have the last weeks been working for a solution in relation to the financial challenges that has arisen after mid-February when it was clear that the company would not be provided with sufficient funds that could ensure a continuation of normal business at the yard.

The situation that have arisen made it necessary for the company immediately after the clarification from the owner who will support with further funds to declare forced accord with the largest creditors. Even the company’s suggestion about 12,5% accord was accepted by a large part of the creditors, was it some creditors that would not accept the suggested solution. A volunteer accord was therefore not possible.

It has neither been possible to establish further funding from the owner or other external funding that could have been ensuring enough equity or liquidity for justifiable business.

The board and the company’s administration see it as the right step to take to declare forced accord.

Noryards BMV AS is a daughter company of Noryards AS. Today the company has 97 employees.

                                                                        

For questions contact:
Pål K. Grimsrud,        CEO, Noryards BMV AS, Mobile: (+47) 994 77 599
Ivar Kjærvik Hanson, Chairman of the Board of Noryards BMV AS, mobile: (+47) 995 32 509