Seoul Central District Court declares Hanjin Shipping bankrupt

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Seoul Central District Court declares Hanjin Shipping bankrupt

February 17, 2017 - 05:31
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ENGLEWOOD CLIFFS, NJ, Feb. 17, 2017 (Reuters) -A South Korean court declared Hanjin Shipping bankrupt on Friday, after ruling earlier this month that the firm's liquidation value would be worth more than its value as a going concern.

Hanjin Shipping, which had been the world's seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support.

Reuters - S.Korea court declares Hanjin Shipping bankrupt

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