The German shipyard operations of Genting Hong Kong filed for bankruptcy on January 10 after last-minute talks between the Malaysian parent company and the German state officials failed to reach an agreement on the terms of a government loan to keep the operations going. The filings known as insolvency under German law included the MV Werften group in the east as well as Lloyd-Weft in Bremerhaven. Discussions are ongoing to determine the short-term situation. At the end of last week, MV Werften said that it was in danger of violating convents on its loan that was forcing the company to delay payment of wages to its nearly 2,000 employees. After being informed of the bankruptcy filing, representatives of the union said that employees were willing to show up for work tomorrow at the yard while officials from the state and federal government both addressed the situation calling for a long-term restructuring of the operations.