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SEOUL BANKRUPTCY COURT
Cash-strapped SsangYong Motor narrows net losses in first half of 2021Some of the self help measures include its employees taking a 2 year unpaid leave, cut in wages , welfare benefits and the proposed sale of...- Ssangyong to sell plant site as part of rehabilitationSsangyong is still under rehabilitation process and has to submit rehabilitation plan to the court. However, Ssangyong wants to make an M&A...
- Mahindra-owned SsangYong puts controlling stake up for auctionThe Korean auto major, which is 75% owned by Mahindra, is under court receivership since April after it failed to rollover loans worth $148...
- Cash-strapped SsangYong submits self-rescue plan as it looks to bring investor on boardThe rehabilitation plan includes half of SsangYong’s staff taking unpaid leave up to two years in a bid to avoid retrenchment. “This sort o...
- SsangYong eyes new investor to complete sale processSsangYong Motor is expected to invite tenders by next month and is likely to submit a restructuring programme by the first week of July, wi...
- Ssangyong Motors may shed some senior executive jobs as part of cost cuttingThe Seoul Bankruptcy Court on April 15 approved the debt-rescheduling process for SsangYong Motor as the US-based HAAH Automotive did not s...
- SsangYong in receivership as Mahindra fails to find buyerThe Seoul Bankruptcy Court on April 15 approved the debt-rescheduling process for SsangYong Motor as the US-based HAAH Automotive did not s...
- SsangYong court rehabilitation may begin early next week as CEO Yea quitsSsangYong has over the last six to nine months failed to secure a letter of intent (LOI) from its likely potential investor, US-based HaaH ...
- Korea based Edison Motors in fray to acquire SsangYongUntil now, US based HAAH Automotive was the only potential suitor to acquire SYMC. The South Korean electric vehicle manufacturer, Edison w...
- SsangYong pays 140 million won to start standard bankruptcy procedure in SeoulMahindra & Mahindra’s 75 percent ownership in Ssangyong will reduce and HAAH Automotive Holdings is expected to become the largest sharehol...
- Mahindra receives clearance from RBI to reduce stake in SsangYong MotorThe UV maker has got approval from the Reserve Bank of India to reduce its stake of 75 per cent in SsangYong Motor to 25 per cent through c...
- Mahindra & Mahindra fails to find buyer for SsangYong in FebruaryMumbai-based M&M holds close to 75% stake in loss-making SsangYong Motors which it had acquired a decade ago for Rs 2,100 crore, or $463 mi...
- M&M faces hurdle in selling SsangYong Motor stake to US companyWhile Mahindra wants to sell its entire 75% stake in SsangYong Motor to the potential investor, Haah, a US automotive distributor, and some...
- Mahindra set to announce new buyer for SsangYong next weekSsangYong has filed for court receivership with the Seoul Bankruptcy Court after failing to repay loans of about 60 billion won (Rs 408 cro...
- M&M issued corporate guarantees to global creditors for SsangYong Motor CoThese agreements came to light after SsangYong filed an application on December 21 for commencement of rehabilitation procedures with the S...
- M&M’s liabilities due to SsangYong bankruptcy may be capped at Rs 680 crThe financial liabilities incurred by Mahindra & Mahindra for corporate guarantee on the loans borrowed by SsangYong Motor Company is likel...
- JP Morgan demands loan repayment of 40 billion wons from SsangYongFollowing the Korean automaker's application for rehabilitation dated December 21, JP Morgan issued a notice to the cash-strapped firm dema...
- Mahindra's South Korean arm SsangYong Motor files for bankruptcyMahindra & Mahindra-owned South Korean automaker SsangYong Motor filed for court receivership after defaulting on loans worth 90 billion wo...
- Sensex falls 150 points, Nifty tests 10,750; PNB, RCom tank 9% eachTata Motors emerged as top Sensex gainer and Hero MotoCorp worst laggard.
- Hanjin fall is Lehman moment for shipping, says Seaspan CEOThe fallout of Hanjin Shipping is like Lehman Brothers to the financial markets, said Seaspan CEO Gerry Wang.
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