Hanjin's fate to be decided by September 4th

The next two weeks will prove critical for the crisis-hit container carrier Hanjin Shipping, which has until September 4th to settle a restructuring plan with its creditors, shipowners and bondholders.

Photo: Hanjin

South Korea's largest shipping group, Hanjin Shipping, is in the midst of last-ditch efforts to get all its stakeholders on board for a comprehensive restructuring plan.

These include the company's creditors, lead by state-owned bank Korea Development Bank (KDB), and a large number of shipowners and bondholders. And the next two weeks could well prove critical for the company, which has until September 4th to get the many pieces into place.

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