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15 December 2019 The on-line newspaper devoted to the world of transports 02:54 GMT+1



November 18, 1998

Halla shipbuilder gets reprieve from creditors

[SEOUL]

Creditors of Halla Heavy Industries Co, an insolvent Korean shipbuilder, allowed it to reschedule 2.1 trillion won (S$2.6 billion) of debt, boosting parent Halla Group's efforts to prevent it and three other units from being liquidated.

Halla Heavy creditors agreed to write off as much as 51 per cent of the shipbuilder's secured and unsecured debts ......
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