According to the investigation of Dalian Municipal Intermediate People's Court, DSIC Offshore owned a debt of RMB7.95m ($1.18m) from Dalian Shenghua. The company had no ability to pay back the debt due to a negative net asset of RMB1.921bn.
Beijing Jingdu (Dalian) Law Firm had been appointed as the restructuing administrator for the case.
DSIC Offshore is a contractor company specialized in offshore engineering, construction, repair and conversion. Its main business covers jack-up/semi-sub drilling/production platform, drilling ship, FPSO, wind turbine installation vessel and other fixed and floating drilling or oil and gas production facilities.