One of the largest claims against a North Jutland company ever threatens the finances of the scrapyard Modern American Recycling Services, Europe (M.A.R.S.). After a violent accident in the Port of Frederikshavn, a claim of DKK 313 million has been raised against the American-owned company. This is reported by Nordjyske.
The accident took place in October 2023, when the scrap ship Zafiro Producer broke loose in strong winds and crashed into the Noble Resilient drilling platform. The helicopter platform went into the water, and a new dock facility at the neighboring Orskov Yard was damaged. According to the latest accounts, the claim exceeds M.A.R.S.'s insurance coverage, which has a ceiling of DKK 150 million.
- The management does not agree with the calculated amount, says a note in the accounts.
The company's equity is calculated at DKK 51 million. This means that M.A.R.S. risks having to cover 163 million DKK outside of insurance. Management writes that it expects to be able to cover this through self-financing, but it does not elaborate on how.
- It is management's expectation that claims for compensation, in addition to insurance coverage, will be able to be covered through self-financing, it appears from the accounts.
CEO Kim Thygesen does not wish to comment to Nordjyske.
According to information previously reported by Nordjyske, several employees have made management aware that the moorings for the ships were worn and soft. Management has not commented on this.
Kim Thygesen has also been personally sued in the case by the oil drilling company Noble Corporation plc.
The compensation cases are not expected to be decided for two years.
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