ABG Shipyard moves a step closer to liquidation

ABG Shipyard moves a step closer to liquidation

One of the most famous names in Indian shipbuilding has moved a step closer to liquidation.

ABG Shipyard’s committee of creditors has voted in favour of liquidation of the company

Lenders have rejected two successive bids by London-based metals player Liberty House.

ABG’s fate is likely to be decided at a local court hearing tomorrow.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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