Yacht builder moves toward bankruptcy - Soundings Online

Yacht builder moves toward bankruptcy

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Sealine Yachts America was summoned by a bankruptcy court in Florida Monday as a debtor in an involuntary liquidation bankruptcy case.

The company is facing an involuntary Chapter 7 liquidation bankruptcy petition that was filed late Friday in U.S. Bankruptcy Court in Fort Lauderdale, the latest in a string of financial woes for Sealine and its Britain-based parent company.

Sealine has 21 days after being served to either file a motion with the clerk or answer the petition, court documents showed. Failure to respond would result in an “order for relief” for petitioners, according to court documents.

The amount owed to all petitioners — United Yacht Sales, Hartman Yacht Maintenance and Creative Displays — totaled $173,853.97, court documents showed.

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