Yangfan workers votes against restructuring plan

Yangfan workers votes against restructuring plan

The workers’ union of bankrupt Yangfan Shipbuilding held a vote on the restructuring plans for the shipyard yesterday, voting against the restructuring plan proposed by the shipyard’s major shareholder Jianlong Group.

At the end of December, Yangfan Shipbuilding filed an application with a court in Qingdao, requesting to change the bankruptcy administrator of the shipyard as it believes the administrator is working against regulations in the restructuring process and has interests associated with Jianlong Group.

The court has already postponed approval of the restructuring plan until further notice.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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