STX Corporation Turns to Legal Action to Dismiss Bankruptcy Application

STX Corporation revealed today in a filling to the Korea Exchange its intention to hire lawyers in order to dismiss a bankruptcy application, submitted by a private individual creditor, who claims to hold 132.6M won ($118,664) of STX bonds.

The application has been filed on the grounds of a claim that STX Corporation was faced with financial uncertainty jeopardizing its restructuring process, whereas the move for bankruptcy would enable the creditor in question refunding for the said bonds.

STX will designate an attorney and make an effort to dismiss the application. This case is sort of an ‘incident’, ” STX Corporation told Fairplay.

As a result, trading of the corporation’s stock has been halted until September 2.

World Maritime News Staff, August 29, 2013

Share this article

Follow World Maritime News

In Depth>


<< Feb 2020 >>
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >