Greater China

CSC Phoenix subsidiary to be liquidated

Shanghai: CSC Phoenix, the bankrupt subsidiary of Sinotrans & CSC, announced that its subsidiary Changjiang Transport Technology has received a civil ruling from Wuhan Intermediate People’s Court accepting the request from three creditors of the subsidiary, Shanghai Kangcai Diesel Engine Repair Co, Shanghai Minnan Shipyard and Zhoushan Jinping Shipyard to liquidate the company.

CSC Phoenix holds 89.03% shares in Changjiang Transport Technology and the subsidiary has already suspended operations. [14/04/14]

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