A South Korean court has begun Sungdong Shipbuilding's receivership process.
Shin Sung-hoon, spokesman of Changwon district court, told the Yonhap news agency that auditor Deloitte Anjin will now carry out due diligence to determine both its value as a going concern and its liquidation value.
"We will decide whether to continue the court receivership or liquidate the company after reviewing a report by Deloitte Anjin," Shin added.
