Guangzhou: Guangzhou Maritime Court has handled a series of debt disputes related to bankrupt Lanhai Shipping and has ruled the company to pay its creditors.
According to Guangzhou Maritime Court’s releases, the court has received more than 30 lawsuits against Lanhai Shipping. The list include Shanhaiguan Shipbuilding Industry, Yangfan Group, PICC, CSS and also former crewmembers of the company. The court has ruled Lanhai Shipping to repay its debts to all theses creditors.
Lanhai Shipping stopped operation in 2013 and went bankrupt in 2014. Currently more than 20 vessels belonging to the company have been detained for auction.