JDC applies for court protection

JDC applies for court protection

JDC Corp. (shown), a financially troubled midsize construction company, effectively goes bankrupt Dec. 1 with debts totaling 406.7 billion yen. JDC, a Tokyo-based company listed on the First Section of the Tokyo Stock Exchange, filed with the Tokyo District Court for protection from creditors under the Corporate Rehabilitation Law. JDC has been laden with a large burden of debts and debt guarantees since it aggressively diversified into golf course projects and overseas building projects in Southeast Asia and Australia in the asset-inflated bubble economy period of the late 1980s. ==Kyodo

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  • ILEA000000858
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  • 1998/12/02 00:00:00
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  • Kyodo / Kyodo News Images
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