Hanjin Shipping will enter receivership after bank support lost
Hanjin Shipping has decided to file for court protection after losing the support of its banks in South Korea, sending shockwaves through the shipping and financial world.
The writing was on the wall after the country’s largest shipping line had trading of its stocks suspended on the Korea Exchange yesterday after a liquidity plan submitted to Korea Development Bank on Aug. 26 was rejected.
For more information, see Hanjin Shipping will enter receivership after bank support lost.