The liquidator of bankrupt German shipyard P+S Werften is suing accountants KPMG for EUR 514m ($565.66m) in damages.

Berthold Brinkmann has also filed similar suits against Hegemann-Gruppe and a number of former P+S executives at the district court of Hamburg, bringing the total amount of claims to more than EUR 700m, the DPA news agency reported.

P+S Werften, based in Stralsund, went bust in 2012.

KPMG