Search results for: court receivership

12038 results

A list of search results

  • 4 July 2017
    Business & Finance

    The Seoul Bankruptcy Court decided on Monday to early finalize the receivership process of South Korea’s STX Offshore & Shipbuilding. According to the latest decision from the bankruptcy court, STX has made considerable progress in its economic recovery as it has adhered to the debt payment schedule proposed under its rescue plan. What is more, the shipyard has […]

  • 21 July 2017
    Business & Finance

    South Korea’s STX Offshore & Shipbuilding has won an order for four 50,000 deadweight tonnage (DWT) midsize tankers as it steps up its efforts to business recovery.  The order, worth USD 140 million, has been placed by a Greek owner Oceangold Tankers, according to Asiasis. The newbuild tankers, priced at USD 35 million a piece, are scheduled […]

  • 30 May 2016
    Business & Finance

    South Korean cash-strapped shipbuilder STX Offshore & Shipbuilding Co. has filed for court receivership with the Seoul Central District Court, Yonhap news agency informs. The Friday filing came as creditors decided to end their years-long financial aid to the yard, especially since the company lacks sufficient funds to meet its financial obligations due at the end of May. It is […]

  • 10 April 2018
    Business & Finance

    STX Offshore is to be put under court receivership as its union failed to accept the company’s restructuring plan.

  • 11 April 2018
    Business & Finance

    STX Offshore & Shipbuilding got a second chance to avoid court receivership as KDB plans to examine its self-rescue plan.

  • 25 May 2016
    Business & Finance

    Troubles for South Korean shipbuilders keep on coming the latest victim being STX Offshore & Shipbuilding Co. Specifically, the financially troubled shipyard is likely to enter court receivership as creditors plan to end its financial aid stretching for years now, Yonhap reports citing industry sources familiar with the matter. Creditors are said to be meeting today, […]

  • 7 June 2016
    Business & Finance

    South Korean shipbuilding company STX Offshore & Shipbuilding Co. has received approval to go into court receivership, the Korea Times reports citing a local court ruling from today. The cash-strapped shipbuilder filed for court receivership with the Seoul Central District Court, on Friday, May 27th. The filing came as creditors decided to end their years-long […]

  • 9 January 2018
    Business & Finance

    STX Heavy Industries has decided to launch a new capital increase scheme.

  • 31 August 2016
    Business & Finance

    The financially troubled Hanjin Shipping has succumbed to the prolonged depression in the shipping market as the South Korean carrier decided to file for court receivership. Following the company’s move, Korean Financial Services Commission (FSC) said that the government “will promote sales of Hanjin Shipping’s core assets to Hyundai Merchant Marine in a bid to maintain competitiveness of […]

  • 21 March 2018
    Business & Finance

    STX Offshore & Shipbuilding’s labor union is to stage a strike protesting against the company’s self-rescue plan.

  • 15 September 2016
    Business & Finance

    South Korean Hanjin Shipping has received a deadline extension from Seoul Central District Court to submit its rehabilitation plan, the company said in a stock exchange filing. The court moved the date of the first meeting to discuss the future of Hanjin Shipping to December 9, almost a month after the initial date of November 11. After the first meeting, the company is expected […]

  • 2 September 2016
    Business & Finance

    After the South Korean shipping giant Hanjin Shipping, a member of the CKYHE Alliance, decided to file for court receivership, the remaining four members of the alliance have decided to cut all ties with the company. Namely, Shanghai-based shipping company Cosco Container Lines, Japan’s Kawasaki Kisen Kaisha, Taiwanese Yang Ming and Evergreen Line said that their cargo will not be […]

  • 20 April 2018
    Business & Finance

    Sungdong Shipbuilding and Marine Engineering has been placed under court receivership,

  • 1 September 2016
    Business & Finance

    South Korean shipping company Hyundai Merchant Marine will deploy more than 13 vessels on Hanjin Shipping’s two routes to minimize the effects of the company’s filing for court receivership, according to Korean Financial Services Commission (FSC). Namely, HMM will add Hanjin’s America and Europe loops to its sea routes in an effort to minimize disorder in cargo delivery and […]

  • 24 October 2016
    Business & Finance

    Some two months after filing for court receivership, the financially troubled Hanjin Shipping is looking to close its European operations, the company said in a stock exchange filing. South Korea’s former shipping giant has received permission from the Seoul District Court to shut down four of its European units, namely, Hanjin Shipping Europe GmbH & […]

  • 1 July 2016
    Business & Finance

    South Korean shipbuilding company STX Offshore & Shipbuilding Co. has initiated discussions to terminate shipbuilding orders in an effort to reduce losses, Yonhap News Agency cited industry sources. The company could soon cancel the construction of four ships for the tanker shipping company Frontline Ltd, and it is currently in talks to ax another deal for […]

  • 15 September 2016
    Business & Finance

    Three bulk carriers chartered to the South Korean shipping company Hanjin Shipping have been sold following the company’s filing for court receivership amid a persistent downturn in the shipping industry. Namely, the vessels in question are the 2011-built Hanjin Matsuyama, and two 2012-built bulkers Hanjin Isabel and Hanjin Liverpool, according to data provided by VesselsValue. The 179,200 dwt […]

  • 2 February 2017
    Business & Finance

    The rehabilitation process for the former South Korean shipping giant Hanjin Shipping is set to end on February 17, Yonhap News Agency cited the Seoul Central District Court. The decision was made on Thursday by the South Korean court, some half a year after the cash-strapped carrier was put under court receivership as it succumbed to the prolonged depression […]

  • 4 September 2016
    Business & Finance

    Hanjin Files for Court Receivership, HMM to Buy Its Assets The financially troubled Hanjin Shipping has succumbed to the prolonged depression in the shipping market as the South Korean carrier decided to file for court receivership… Read More Interview: More Boxships Set to Join Scrap Markets in 4Q As the shipping industry saw an abundance […]

  • 22 February 2017
    Business & Finance

    Following Hanjin Shipping’s bankruptcy, the rate of debt recovery for unsecured creditors is expected to be close to zero as most of the company’s unencumbered assets are being sold at very low prices, according to Alphaliner. After the former South Korean shipping giant officially ended its 40-year history on February 17, 2017, when it was declared bankrupt by the Seoul […]

  • 17 February 2017
    Business & Finance

      The former South Korean shipping giant Hanjin Shipping was officially declared bankrupt by the Seoul Central District Court on February 17, less than six months after it first filed for court receivership. With this move, made after a two-week period for appeal expired, the company, established in 1977, has ended its 40-year business. A […]

  • 6 September 2016
    Business & Finance

    South Korea’s conglomerate Hanjin Group, the parent company of the ailing container carrier Hanjin Shipping, is looking to raise KRW 100 billion (USD 90.4 million) which would be used to fund the unloading of cargo stranded on vessels following the company’s decision to file for court receivership, according to Reuters. Hanjin Group is planning to raise […]