Daehan Shipbuilding Chapter 15 case closure request granted by court

By Caroline Salls

Pittsburgh, Nov. 17 – Daehan Shipbuilding Co., Ltd.’s Chapter 15 bankruptcy case was closed Monday by the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, the company’s foreign representative asked the court to close the case because Daehan “is performing under the terms of the Korean rehabilitation plan” and filed a motion last month to close its Korean proceeding.

As a result, the representative said there is no longer a reason for the Chapter 15 case to remain open.

Daehan, a ship building company based in Hwawon-myeon, Haenam-gun Jeollanam-do, South Korea, filed for bankruptcy Aug. 19, 2014. The Chapter 15 case number is 14-12391.

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