China Fishery files for bankruptcy in NY
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Singapore
BELEAGUERED China Fishery Group, along with more than 15 affiliates, has filed for Chapter 11 bankruptcy protection in New York. Restructuring proceedings have also begun in Peru, the US, and the British Virgin Islands.
According to a Wall Street Journal (WSJ) report, four other affiliates, including Pacific Andes Resources Development - which is also listed on the Singapore Exchange (SGX) - filed for Chapter 15. This is the part of the bankruptcy code covering international insolvencies.
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