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Mopko Shipbuilding files for court receivership

Seoul: Midsize Korean yard Mokpo Shipbuilding has recently filed for a court receivership. ??The company said, "We estimate our liquidation value stands at KRW 37.4bn ($32.3m) while existence value coming in at KRW 43.7bn." ??"If court accepts rehabilitation for us and the deadline of debt repayment is postponed, we will try our best to pay the debt and interest in the shortest time." ??The shipbuilding firm's asset totalled KRW 53.4bn as at the end of July while its total debt coming in at KRW 59.7bn.  [20/09/10]

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