ShippingWatch

Hanjin closer to insolvency as rescue plan is rejected

South Korean container carrier Hanjin Shipping must present a new proposal for a rescue plan after creditors on Thursday rejected the latest submission. The company is thus one step closer to entering court receivership.

Photo: Hanjin

Hanjin Shipping's biggest creditor, state-owned Korea Development Bank, rejected the carrier's latest proposed rescue plan on Thursday.

As such, the South Korean container carrier is now one step closer to defaulting and being placed under court receivership, reports Maeil Business News Korea.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs