Bankrupt Sinopacific Offshore & Engineering seeks investors

Bankrupt Sinopacific Offshore & Engineering (SOE) has announced that it is looking for investors to help restructure the company.

The subsidiary yard of privately-owned Sinopacific Shipbuilding had gone into liquidation in August this year, and embarked on a debt restructuring in November upon approval by the court.

A recent statement from SOE said the embattled company is seeking investors to help pay its debts and allow operations to continue.

Potential investors are requested to express their interests by 31 December 2016.

At a first meeting of creditors last month, it was revealed that a total of 418 creditors are chasing for RMB8.8bn ($1.27bn) owed by SOE.

Posted 13 December 2016

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

ShipTech Storybox

Seatrade ShipTech Middle East

23 – 24 September 2019 | Madinat Jumeirah, Dubai

The knowledge hub of technological advancements for the shipping sector. Learn, discover and experience new technologies and optimise operational efficiencies.

View 2019 programme >