Friday, April 20, 2018

Korean court starts Sungdong receivership

In February, a report from consultants Samjong KPMG recommended that Sungdong shut weaker divisions and transform itself into a repair yard. Under a creditor-led restructuring that began in 2010, KRW 2.7 trillion ($2.5bn) was pumped into the shipbuilder. But it won only five new ship contracts last ...
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