Derecktor Shipyards filed for Chapter 11 bankruptcy protection last Friday at the US Bankruptcy Court in Bridgeport, Connecticut.

In its application to the court the Connecticut yard revealed it currently has more than 200 creditors and outstanding liabilities of up to US$10m.

It added that the bankruptcy action does not involve its New York or Florida operations, both of which are seeing stronger business.

The company is also facing a number of lawsuits, including one claiming it owes a former client US$12m over a loan made while the yard built Cakewalk V.

The second-largest creditor is listed as Bridgeport Port Authority — which is owed almost US$387,000.

James Berman, a bankruptcy attorney who now represents Derecktor as its head of business development, insists that the yard has heard from a number of potential investors who are interested in maintaining the Bridgeport yard.

Superyacht Business / Michael Verdon, 25 January 2012