Independent journal on economy and transport policy
01:38 GMT+2
Halla shipbuilder gets reprieve from creditors
(Shipping Times)
November 18, 1998
[SEOUL]
Creditors of Halla Heavy Industries Co, an insolvent Korean shipbuilder, allowed it to reschedule 2.1 trillion won (S$2.6 billion) of debt, boosting parent Halla Group's efforts to prevent it and three other units from being liquidated.
Halla Heavy creditors agreed to write off as much as 51 per cent of the shipbuilder's secured and unsecured debts ...... Read more on Shipping Times
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