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VWvortex
CHINESE-owned Ssangyong Motors of South Korea, which last month could not pay its workers on time, said on Friday it had applied for court receivership.
"The court will decide whether the company should be kept afloat or be liquidated,'' a company spokesman said.
Ssangyong has fallen into a financial crisis amid slow auto sales and a dearth of operating funds from its parent, Shanghai Automotive Industry Corp.
The company expects a net loss of more than 100 billion won ($107 million) for last year due to a slump in demand.
http://www.news.com.au/business/story/0,27...9-31037,00.html
Wonder what will happen to our own Micro if Ssangyong is liquidated?
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