'Ranked 58th in Construction Volume' Shindong-A Construction Files for Corporate Rehabilitation Proceedings in Court
Mid-sized construction company Shindongah Construction, owner of the apartment brand 'Familie,' is undergoing rehabilitation proceedings.
According to the legal community on the 6th, Shindongah Construction submitted an application for the commencement of corporate rehabilitation proceedings to the Seoul Bankruptcy Court Rehabilitation Division 3 (Presiding Judge An Byung-wook) on the same day.
Shindongah Construction is a mid-sized company ranked 58th in the Ministry of Land, Infrastructure and Transport's construction capacity evaluation last year.
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Previously, Shindongah Construction applied for a workout (corporate financial restructuring) in 2010 and exited it in November 2019 after nine years. However, about five years after graduating from the workout, it is now entering court receivership again.
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