Greater ChinaShipyards
Bank of Jiangsu to sell Taizhou Kouan debt via auction
China’s Bank of Jiangsu is looking to dispose of the creditor debt owed by Taizhou Kouan Shipbuilding via an online auction.
The bank has listed RMB142.6m ($20.88m) worth of debt owed by the shipyard for an online auction sale on September 29 through online platform JD.
Taizhou Kouan Shipbuilding entered into a court-led restructuring in August after it was declared bankrupt by a local court.
VesselsValue data shows the shipyard currently has an orderbook of 15 ships made up of 11 bulk carriers and four tankers.