The apartment house lotting out biggest business in Hokkaido filed for court-mandated rehabilitation to the Sapporo district court by the Miyakawa construction (Sapporoshi) on the 11th, and was received.

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The apartment house lotting out biggest business in Hokkaido filed for court-mandated rehabilitation to the Sapporo district court by the Miyakawa construction (Sapporoshi) on the 11th, and was received.

The indebtedness in Setokiten in May is about 10.4 billion yen according to the clarification of the management.

The financing came to a standstill by the moderation of the real estate marketing from last year though restructuring was advanced as sales decreased in competing intensification of the apartment house sales in Sapporoshi, and the employee was strong reduced by 20 percent in January this year. The creditor briefing is scheduled to be held on the 16th.

- Miyakawa construction http://www.miyakawa-kensetsu.co.jp/

- Source
http://www.nikkei.co.jp/news/sangyo/20090611AT3B1100111062009.html

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