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HHIC-Phil secures court approval for rehabilitation

A local court has allowed the Filipino unit of Hanjin Heavy Industries and Construction to start working on its debt restructuring scheme. A trade official earlier said the government was looking for new investors to rescue the shipyard, with interest already expressed by two Chinese shipbuilders

HHIC-Phil reportedly had $1.3bn of outstanding debts, borrowed from Filipino banks and South Korean lenders

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