Taiwan’s Wei Chih Steel has assets seized after creditor court action

Taiwanese long steel producer Wei Chih Steel Industry has had property assets seized by a local court after an unpaid creditor took action against the company.

The asset seizure was ordered by the Tainan District Court on October 6, the electric arc furnace (EAF) mill said in a filing last week to the Taiwan Stock Exchange, without specifying which assets had been seized.
Despite not being able to use the seized assets, the company also told the stock exchange it was “currently operating as usual”.

Located in the Guantian region of Tainan City in south-west Taiwan,...


Juan Weik

October 13, 2015

12:09 GMT