South Korean shipyard ShinaSB is facing liquidation after filing for bankruptcy.
It has been under court receivership since last year, but Changwon district court said a petition was submitted by the company this week after three attempts to sell the company failed and a restructuring was abandoned, the Asiasis website reported.
A trustee will now be appointed to oversee liquidation, while assets will be handed over to creditors.
ShinaSB,
