The business court in Kherson region has declared public joint-stock company Kherson Shipyard, part of Smart Maritime Group (SMG) of Vadim Novinsky's Smart-holding, bankrupt and launched a liquidation procedure.

The company reported in the information disclosure of the National Commission for Securities and the Stock Market on Thursday that the court made its decision on July 19. Viacheslav Menchak has been appointed liquidator.

Kherson Shipyard was founded in 1951. Kherson Shipyard jointly with Chornomorsky Shipbuilding Yard (Mykolaiv) is part of SMG.