Judger’s debt-ridden shipbuilding subsidiaries seek investors

The receivers, consisting of three law firms based in China’s Zhejiang province, announced that the shipyards are seeking investments from the shipbuilding and logistics sectors, including cargo distributors and warehouse providers.

Both Judger Shipbuilding and Yuandong Shipyard applied to Wenzhou Intermediate Court in April to restructure its debts, spanning across 49 creditors demanding RMB1.2bn ($193.4m).

The parent firm Judger Group, a multi-sector enterprise mainly engaged in the clothing and real estate businesses, is itself undergoing a restructuring process since February this year.