Wavemaster International

Creditors of foundering ship builder WaveMaster International may have to wait until next year to see if the business can be salvaged and they can recover what they are owed.

The Australian Securities and Investments Commission has started an investigation into beleaguered shipbuilder Wavemaster International, which has been in financial turmoil for some months.

As further writs are lodged against ship builder Wavemaster International, reports are again emerging that the company's staff are not being paid.

Shipbuilder Wavemaster International is confident it can meet its creditors' demands, despite more writs having been lodged.

Aluminium fast ferry builder Wavemaster International has been served with more than $134,000 in writs from creditors in the past month.

MUCH more than goodwill flowed from this week's launch and handover of the Abeer Thirty Eight at Cockburn Sound's Australian Marine Complex.