German cruise operator, Delphin Kreuzfahrten, has gone bankrupt. The company said in a statement that long running disputes concerning a 2006 refit of the 'Delphin Voyager' led to its failure.
"It was agreed that 77 balcony cabins be installed and suites as well as the indoor and outdoor areas be completely renovated. There were problems with the contract since the beginning of the relationship. The renovation was delayed considerably and was executed poorly," Delphin said in a statement.
"Despite all the shortcomings of the owner was not willing to adjust the charter rate accordingly. A legal dispute is pending," Delphin said, adding that the owner has taken over the control of the vessel.
"Due to the situation that occurred the Delphin Kreuzfahrten, Delphin Kreuzfahrten and Conpart Hotel Management and Catering Service have filed for bankruptcy. The management believes that the liquidator's operations will maintain and develop a sustainable solution for the group," Delphin said.