Insolvency administrators in Bremen have signed off on a plan to liquidate a cluster of subsidiaries controlled by German heavy-lift operator Beluga Shipping.

Oaktree insider and HHL chief, Roger Iliffe with Edgar Gronda at a press conference in Germany.
Sources inside the organisation have called the development “a tragedy”, as more than 224 employees have been laid off and another 206 have left on their own in the months following the company’s March bankruptcy filing.

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