JES International Holdings was placed under judicial management in Singapore on Monday.
The Chinese shipyard group is awaiting a court hearing for its judicial management application, chief executive Jin Yu said in a filing to the Singapore Exchange.
JES’ board has proposed the appointment of Yit Chee Wah of FTI Consulting (Singapore) as judicial manager to oversee the company’s affairs, business and property during the judicial management period.
Trading in the company’s shares has been suspended on the Singapore Exchange since 4 March, 2015.
In January this year, JES said it was hoping to seal a takeover by blockchain company PLMP Fintech, as TradeWinds reported previously.
The sale of JES' shipyard subsidiaries in China failed during 2018.
