Serious It's Official! Hanjin Shipping Co Bankrupt! Up The Lorry!

[JohnTan]

SEOUL — A South Korean court on Friday pulled the plug on Hanjin Shipping Co., declaring it bankrupt and ordering the liquidation of a company that has led the country’s shipping industry for the past four decades.

The bankruptcy comes five months after the company, which was once one of the largest container-shipping lines in the world, filed for court receivership under heavy debt.

A court-appointed caretaker will sell any remaining ships and other assets Hanjin still owns to pay off its creditors, said Choi Ung-young, a judge on the Seoul Central District Court.

The court closed the company’s rehabilitation proceedings earlier this month, saying liquidation would bring more value to creditors, with its major assets mostly sold off.


http://www.marketwatch.com/story/hanjin-shipping-officially-sunk-declared-bankrupt-2017-02-16

 

[krafty]

koreans are hardworking pple, never expect things turn out this way.

 

[halsey02]

How much is " them are sick" & Gosh! I came!"..exposure to Hanjin? now renamed : Hanjinx

 

[mojito]

How much is " them are sick" & Gosh! I came!"..exposure to Hanjin? now renamed : Hanjinx

Get ready to open the purse strings. Time for us to buy up a world class shipping line to transport our military vehicles!

 

[OrLanChowHorFun]

most excellent..................hope more Korean companies will go bust...........

 

[virus]

screw the koreans.... yay!!!

i hope apple and samsung goes down together next