Trade Info You Can Trust
Doubts raised on Hanjin rehab plan as ships clog Busan port
The South Korean court handling Hanjin Shipping's 117930.KS receivership cast doubt on the container carrier's ability to survive a restructuring, news reports said, as 13 Hanjin ships crowded waters outside the country's biggest port.
A rehabilitation plan for the world's seventh-largest container carrier is "realistically impossible" if top priority debt such as backlogged charter fees exceed 1 trillion won ($896 million), the Seoul Central District Court said...
This has been excerpted from 21 September 2016 edition of Reuters Canada and is available in its entirety at:
http://ca.reuters.com/article/businessNews/idCAKCN11R05Z