Hanjin Shipping $78 million Korean sale order enforced by U.S. court

By Caroline Salls

Pittsburgh, Jan. 23 – Hanjin Shipping Co., Ltd.’s Korean asset sale order was recognized and enforced Monday by the U.S. Bankruptcy Court for the District of New Jersey.

The Seoul Central District Court approved the $78 million sale of Hanjin’s interest in shareholder loans to Terminal Investment Ltd. Sarl, on behalf of Hyundai Merchant Marine Co., Ltd., on Dec. 20.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.