Archive for December, 2014

Developer refuses to file bankruptcy

Posted December 11, 2014 By stoccato

Investment General Corporation (SHN) will not file for voluntary bankruptcy despite being short of cash and burdened with a high bad debt ratio, said CEO Dinh Hong Long at the company’s shareholders meeting this week.

SHN has been on the verge of bankruptcy since the beginning of this year, when information leaked that the company would unlikely recover debt due from Beta BQP Joint Stock Co worth a total of VND238 billion (US$11.3 million).

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