ShippingWatch

PwC: Makes financial sense to let Hanjin go bankrupt

Consultancy firm PwC has submitted its report concerning Hanjin Shipping's fate to the court in Seoul. The accountants have not spent time calculating the financial benefits of restructuring the carrier, currently under court receivership.

Photo: Hanjin

A liquidation is preferable to restructuring. This is the conclusion in a report from the consultancy firm PwC to a court in Seoul with reference to the fact that it is more economically viable to allow the carrier Hanjin Shipping to go bankrupt, according to Yonhap News.

PwC's conclusion on Hanjin can hardly come as a surprise, as the de facto settlement of Hanjin through asset sales is already underway.

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

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs