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한상넷 로고한상넷

전체검색영역
Hanjin Shipping goes on court administration program, kicked out by CKYHE alliance
Collected
2016.09.02
Distributed
2016.09.05
Source
Go Direct
A Seoul district bankruptcy court has embarked on reorganization procedure for Hanjin Shipping to assess if it can run business under its management.

The court said the country’s largest shipper was placed under court-administered reorganization program “quickly in view of its rank in the country’s shipping industry and repercussions on workers, affiliates, national and regional economies.

It named current Hanjin Shipping chief executive Suk Tai-soo to act as the court trustee and assigned Samil PricewaterhouseCoopers to conduct due diligence to deem if the company is revivable. All of the shipper’s liabilities have been frozen under court protection. The report would be handed by Nov. 25. The court decides the fate - whether to liquidate or sell its assets or save the company after studying the report.

Meanwhile, Hanjin Shipping was informed it must leave the CKYHE Alliance.

By Kim Jung-hwan and Kim Yoon-jin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]