Dutch builder placed into bankruptcy

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Moonen

Moonen Yachts of the Netherlands was placed into bankruptcy. A bankruptcy court ruled last week that the builder could no longer meet financial obligations, according to FD.nl. Moonen had 39 employees.

Two weeks ago, Moonen told media that it had found new “promising investors,” but the investors never materialized.

The newspaper reported that Moonen’s major shareholder, Altos Hornos de Mexico AMHSA, a Mexican steel company, had been found guilty of corruption and money laundering. AHMSA had taken full ownership of in 2017. When Altos Hornos owner Alonso Ancira was arrested in Spain on July 1, according to the paper, it “hampered conversations” with the potential Moonen buyer.

The report stated that the next steps for Moonen are unclear. An administrator was appointed, and the paper reported that he will likely try to bring the company back from bankruptcy.

AHMSA, one of the largest steel producers in Central America, got into financial trouble in 2015 due to a sharp fall in steel prices.

Moonen had two facilities, one in Den Bosch and the other in Groot-Ammers. The latter is no longer operational.

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