EMEA News
Greek Shipper Applies for Bankruptcy Protection
Greek ferry operator Maritime Company of Lesvos has applied for bankruptcy protection following its net loss of €18.3 million ($23.6 million) in the first six months of 2012, Lloyds List reports.
The firm, which trades as NEL Lines, said it was still hopeful of completing a deal to reschedule its debt repayments with lenders and other parties, saying the deal had been agreed but not signed off.
"If we can get the deal signed, we will not need the court protection and the company can move forward," a company source told Tradewinds.
Despite the loss in the first half of the year, the performance was an improvement over a loss of €27.1m ($35.0 million) in the in the same period for 2011.
Founded in 1972, the company's has 10 passenger ferries according to its website.
