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STX Offshore struggling with wave of lawsuits

South Korean yard group STX Offshore & Shipbuilding is battling to find solutions to its extensive financial troubles. The situation will not become easier following a number of legal claims raised by employees and investors, reports South Korean media.

Hyundai Heavy Industries | Photo: Lee Jin-man/AP/POLFOTO/arkiv

The problems are piling up for South Korean STX Offshore & Shipbuilding, which was declared bankrupt in the beginning of June last year.

The yard group has since then been placed under bankruptcy protection, while the South Korean government and primary creditor Korea Development Bank (KDB) is working to find a solution to the yard's debt situation.

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