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Ssangyong enters receivership
Could it be too late for Ssangyong? Shanghai Automotive Industry Corp. (SAIC) appears to have given up on Ssangyong Motor Co., allowing the company to slip into receivership. SAIC holds a 51% stake in Ssangyong, but gave up management rights in a bid to avoid liquidation and allow Ssangyong some time to get back in the black. The Korean automaker's Chief Executive Zhang Hai Tao and President Choi Hyung-tak both stepped down after the filing. As recently as a couple of days ago, SAIC said they would help prop up Ssangyong, but that apparently ... Read more →
Ssangyong faces liquidation if SAIC doesn't prop up ailing automaker Jeremy Korzeniewski
Things are looking dire at Korea's Ssangyong Motors, which, as you might recall, was unable to make payroll last week due to a total lack of cash on hand. The sordid tale continues this week as ...
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Ssangyong enters receivership 10 months ago on Autoblog
Could it be too late for Ssangyong? Shanghai Automotive Industry Corp. (SAIC) appears to have given up on Ssangyong Motor Co., allowing the company to slip into receivership. SAIC holds a 51% stake in Ssangyong, but gave up management rights in a bid to avoid liquidation and allow Ssangyong some ...
Ssangyong faces liquidation if SAIC doesn't prop up ailing automaker 11 months ago on Autoblog
Things are looking dire at Korea's Ssangyong Motors, which, as you might recall, was unable to make payroll last week due to a total lack of cash on hand. The sordid tale continues this week as Ssangyong's largest creditor, Korea Development Bank (KDB), suggests that it will simply liquidate the ...
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