The bondholders of Wuhan Guoyu Logistics, the parent company of Yangzhou Guoyu Shipbuilding, has made a consensus at a meeting to file lawsuits against the company after the company defaulted on bond payments.
Guoyu Logistics, which has suspended operations, said earlier that it was unable to make a bond payment of RMB600m ($91m) due to its poor financial situation.
Its subsidiary yard Yangzhou Guoyu Shipbuilding suspended operations in May.
Guoyu Logistics reported a net loss of RMB90.31m ($13.32m) for the first half of 2016, and total liabilities have amounted to RMB4.8bn ($708m).
