Asia/Pacific News
Hanjin Shipping Succumbs to Bankruptcy Declaration
Friday February 17, 2017
As expected, Hanjin Shipping Co. Ltd (Hanjin Shipping) has officially been officially declared bankrupt nearly six months after filing for court protection.
As Ship & Bunker reported earlier this month, the Seoul Central District Court decided to end the bankruptcy protection of Hanjin Shipping, pending a two-week period for appeals.
With the appeal period now over, the company was officially declared bankrupt by the court today.
Prior to its collapse, Hanjin was the world's seventh largest container line.
In October a list of Hanjin Shipping's creditors was released, which included ten bunker companies who are collectively owed around $64 million.
