Hanjin Shipping U.S. assets protected by provisional interim order

By Caroline Salls

Pittsburgh, Sept. 7 – Hanjin Shipping Co., Ltd.’s Korean rehabilitation proceeding was recognized on an interim provisional basis by the U.S. Bankruptcy Court for the District of New Jersey, according to an order filed Tuesday.

The provisional order stays the filing or continuation of any actions against Hanjin or its assets located in the United States, including owned, operated or chartered vessels or property and any other transportation equipment.

The stay covers the termination of contracts and the arrest or attachment of any vessel, provided that, pending the outcome of a hearing scheduled for Friday, no vessels may leave any ports located in the United States.

Hanjin, a marine transportation services company based in Seoul, South Korea, filed bankruptcy on Sept. 2. The Chapter 15 case number is 16-27041.

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