STX subsidiary STX Dalian has submitted a proposal calling for a company-wide restructure to the Intermediate People's court of Dalian.
The proposal involves the re-organisation of the subsidiary's various corporate divisions, including STX (Dalian) Heavy Industries, STX (Dalian) Shipbuilding, STX (Dalian) Plant, and STX (Dalian) Metal.
According to Asiasis, Chinese companies are able to recoup debt via company restructures, reconciliation, or complying with the country's bankruptcy procedures.
STX Dalian is the latest in a string of STX offshoots to enter rocky waters, following the collapse of the South Korean shipbuilding conglomerate since the global financial crisis.
