Damen Shipyards Mangalia in Romania has officially entered a critical phase of its insolvency restructuring. The judicial administrator, Casa de Insolvență Transilvania (CITR), has submitted a reorganisation plan to the syndic judge. The shipyard, which has been under insolvency proceedings since June 2024, is aiming to restart full operations through a business transfer to a strategic investor. This move is intended to preserve jobs and ensure the continuation of its activities.