Ssangyong Engineering and Construction Out From Court Receivership
luvsmiling, March 27, 2015, 9:22 a.m.
Ssangyong Engineering and Construction graduated from a court rehabilitation program on Thursday. The builder went into receivership in December 2013 due to a cash shortage amid an industry-wide slump.
The Seoul Central District Court's decision came two months after the Investment Corporation of Dubai announced it will buy a controlling stake in the builder. ICD is one of the world's largest sovereign funds with US$160 billion.