Bankruptcy blame on banks

Bremer Vulkan Verbund banks also carry responsibility for the shipmaker's bankruptcy, the business daily newspaper Handelsblatt says.

Commerzbank, Dresdner Bank and BHF-Bank were responsible 'in a multitude of ways' for Bremer Vulkan's failure, the paper said, quoting an internal report by a government agency that oversees former East German government holdings. Commerzbank above all had a 'view into the finances, especially the liquidity situation of Bremer Vulkan', the paper said.