The Silent Yachts client continues to run the company in Italy

In the spring, the bankruptcy of the Carinthian Yacht Company turned into a record bankruptcy. International clients have paid millions. It was stated that the contractor's cessation of delivery in Türkiye was the reason for the insolvency. However, the Silent Yachts ship does not appear to have been a complete wreck. The previous week, an online announcement was made to participate in a boat show in Venice.

“The shares and trademark rights were sold from the bankruptcy estate to an Italian subsidiary,” confirms Gernot Morco, appointed insolvency administrator. The fallback solution announced by the company's founder is not an unusual process.

The ordered boats will be delivered

As former managing director Michael Kohler confirmed to Kleine Zeitung, he managed to win over a client in Michael Said as an investor: “I founded Helios Yacht Investment, but I handed over the salvage company to him.” Increase production salvage operations so we can deliver boats. Said runs the business and the yachts are built at the Italian shipyard in Fano. Kohler himself wants to withdraw from the business completely.

“If orders could be enforced in this way, it would reduce creditors’ claims further,” the insolvency administrator says. Bankrupt examination ASAP Group, formerly trading as Silent YachtsIt will definitely take months. It is still not possible to estimate the actual increase in liabilities, which have increased due to multiple bankruptcies of subsidiaries. Due to mutual obligations and outstanding claims, its value on paper is approximately 140 million euros. “I think the company structure was a failure,” Murko said. It still takes time to assess the role of delivery failures in expensive luxury boats commissioned from a Turkish shipyard.