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Ssangyong Motor applies for court receivership

Published January 8, 2009, 9:09 pm, Fort Worth Star-Telegram

By KELLY OLSEN Troubled South Korean automaker Ssangyong Motor Co. has applied for protection from creditors to buy time to restructure itself into a profitable manufacturer. Ssangyong said in a statement Friday that it made the "unavoidable choice" to file for court receivership to "deal with an urgent liquidity crisis and transform itself into a company with sustainable growth." South Korea's ...

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South Korean carmaker Ssangyong applies for receivership - Earthtimes
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