IHAG

IHAG (Internationale Handelsmarine Aktiengesellschaft) was a German nautical technology and shipping corporation. In 2021, they filed for bankruptcy, which led to the start of the Fourth Corporate War as two corporations, CINO and OTEC, began fighting each other over control of IHAQ's assets.

Background
The firm's business was divided evenly between vessel construction and actual commercial shipping. Sometimes referred to as "the dirtside Orbital Air" IHAG did a lucrative business shipping freight worldwide. They also handled specialized freight transportation, such as hazardous material, live cargo, and other dangerous items.

IHAG's contribution to marine biotechnology was minimal, their Biomarine division was working on several products which held promise before the bankruptcy. However IHAG sank into serious financial trouble after a foolish attempt to take on OTEC in crypropalan production and development. To further fund their construction and biotechnology efforts IHAG took out several very large loans from the European Bank amounting to approximately 500 million. When their main ventures failed, IHAGs cash reserve was reduced to under one million eurodollars and they were forced to default on the loans. Bankruptcy proceedings have just begun.

Trivia

 * The German name of the corporation translates to "International Merchant Marine Corporation".