Jiangsu Eastern Heavy Industries (JEHI) has applied for court protection from creditors as it seeks a deal on debt.
Singapore-listed parent JES International said it aimed to “restructure the group’s assets and liabilities” in a way that would maximise its value for shareholders.
JEHI has filed an application to Taizhou Intermediate People's Court in Jiangsu.
If this is approved, a manager will be appointed by the court to oversee the restructuring.
JES
