Drydocks World Sued in Singapore for Failing to Pay Suppliers
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Two Singapore units of Drydocks World LLC, the ship repair unit of state-owned Dubai World, which is attempting to restructure $24.9 billion of debt, were sued in Singapore’s High Court for not paying suppliers.
Drydocks World Singapore Pte and Labroy Shipbuilding & Engineering Pte, failed to pay S$6 million ($4.7 million) for goods sold and delivered between May and December, according to four complaints filed with the Singapore High Court. The cases had their first closed hearing yesterday.