After 15 months, court lifts protection on Ssangyong E&CThe Seoul Central District Court announced that it would lift court protection on Ssangyong E&C, thanks to rigorous economic activities overseas. Court protection began in December 2013, after which the Seoul court pushed for a fast-track corporate recovery program, which is specifically offered to companies that receive overseas projects and largely influence national credit.
The Investment Corporation of Dubai - one of the largest sovereign wealth funds worth 175 trillion won - took a controlling stake in Ssangyong E&C in January, a factor that contributed to the court’s early graduation decision.
with the Korea JoongAng Daily
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