Shumaker Manufacturing

A Legal & Industry Review

Hanjin Shipping Declared Bankrupt

The Seoul Central District Court declared Hanjin Shipping Co Ltd bankrupt on Friday February 17, 2017, after ruling that Hanjin’s liquidation value was greater than its going concern value. Claims by creditors are due by May 1, 2017 and the first meeting of creditors will be held on June 1, 2017.

Hanjin Shipping Bankruptcy (Source: Reuters)

 

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