Independent journal on economy and transport policy
01:08 GMT+2
Daewoo Motor declared bankrupt
(South China Morning Post)
November 8, 2000
Associated Press in Seoul
Long-ailing Daewoo Motor was officially declared bankrupt on Wednesday after its labour union rejected a restructuring plan that calls for layoffs, creditors said.
''The union has refused to submit its consent to the restructuring plan. We can't wait any longer. Daewoo's bankruptcy has become formal,'' said Yang Mun-suk, a spokesman ...... Read more on South China Morning Post
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