STX Offshore & Shipbuilding has filed for a court-led restructuring scheme Friday, according to officials at the Seoul Central District Court.

The Yonhap news agency, quoting unnamed officials, said the court will decide whether to put the shipbuilder into receivership or opt for liquidation.

STX Offshore & Shipbuilding has been under the control of its creditors since April 2013 amid a protracted slump in the shipbuilding sector.

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