Beleaguered dry-bulk operator Transfield ER Cape has sought protection from lawsuits in the US by filing for bankruptcy in New York.
The Chinese outfit, which has already filed for liquidation in the British Virgin Islands, put a figure of $432m on its liabilities in the Southern District federal court in Manhattan, according to Bloomberg.
The company, controlled by one of China’s richest men Peter Mok, also listed assets of $273.1m
