Western Marine Shipyard goods seized

A Chattogram court has seized goods belonging to Western Marine Shipyard following a verdict in a case filed by a creditor.

Mohammad Kabir, attachment officer of the Second Joint District Judge's Court in Chittagong, seized the goods on 7 June.

Confirming the matter, Mohammad Kabir said about 15 types of equipment worth Tk70 lakh have been seized from the shipyard following the court order.

According to the court, local Haji Saber Ahmad filed a case against Western Marine for Tk70 lakh worth of debt, back in 2020. 

Saber Ahmad told The Business Standard that Western Marine owed him Tk70 lakh for delivering goods to the yard. But the company has not paid him yet.

The shipyard is facing another case of eviction filed by land owner Abul Bashar for not paying rent and vacating the place.

Western Marine Shipyard Executive Director Captain (retd) Tareque M Nasrullah said they are trying to resolve the debt issues.

"We are also working to get long term loans on easy conditions to revive the business of the company," he added.

He, however, said that he was unaware of the seizure off goods from the shipyard. 

Western Marine Shipyard Limited, the country's largest shipbuilder, is burdened with a debt of over Tk2,000 crore. 

The shipyard gained prominence by building 150 ships in 20 years and earning remittance through exports.