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Door No. 15 for STX PO
STX Pan Ocean has filed for Chapter 15 in the US, making it the second Asian shipowner to file for bankruptcy protection in this country on the same day.
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Found an interesting story?
Door No. 15 for STX PO
STX Pan Ocean has filed for Chapter 15 in the US, making it the second Asian shipowner to file for bankruptcy protection in this country on the same day.
The South Korean bulker player, which has already filed for court receivership proceedings in Seoul, is asking a New York bankruptcy court judge to recognise the proceedings at home.
The filing, lodged by law firm Blank Rome on behalf of trustees You Sik Kim and Chun Il Yu, comes after the company has seen several arrests by bunkerers and charterers in recent weeks.
As TradeWinds has reported, at least seven ships owned or chartered by the South Korean shipowner have been arrested
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