Okean lives again

Ukraine's higher economic court has reversed the bankruptcy of shipbuilder Okean.

The shipyard had been put into liquidation last November by Mykolaiv regional economic court, Ukrainian News reported.

Now the junior court is considering complaints against the liquidator of Okean, arbitration manager Mykola Khailo.

The court had previously ordered the yard to pay a single contribution of more than UAH 1m ($0.08m) into the mandatory state social insurance fund in December.

The yard specialises in the construction and repair of containerships, tankers, tugs and barges.