Independent journal on economy and transport policy
07:41 GMT+1
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Completed the plan of reorganization of the South Korean company Pan Ocean Co.
the society has closed the second trimester of this year with a not consolidated net loss of 154,7 million dollars
July 30, 2015
Today the court of the central district of Seul has established that the plan of reorganization of Pan Ocean Co is carried to term. in the within of the Debtor Rehabilitation DNA Bankruptcy Act having assessed that, in consideration of the activities and the passivities of the company of South Korean navigation and its organizational situation, difficulties would not have to sussistere to that Pan Ocean can tackle to the payment of the creditors.
While the company has closed the second trimester of this year with a net loss not consolidated of 154,7 million dollars on revenues for 368,3 million dollars respect to a profit clearly not consolidated of 303,4 million dollars on revenues for 369,4 million dollars in the correspondent period of 2014. The operating profit is piled to 44,8 million dollars (- 29.0%).
The consolidated economic account of the relative South Korean shipowning company to the first semester of 2015 clearly does not record a net loss of -48,7 million dollars on revenues for 721,1 million dollars respect to a profit of 337,8 million dollars on revenues for 696,2 million dollars in the first half last year. The operating profit has been pairs to 98,3 million dollars (- 10.2%).
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Today the court of the central district of Seul has established that the plan of reorganization of Pan Ocean Co is carried to term. in the within of the Debtor Rehabilitation DNA Bankruptcy Act having assessed that, in consideration of the activities and the passivities of the company of South Korean navigation and its organizational situation, difficulties would not have to sussistere to that Pan Ocean can tackle to the payment of the creditors.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
