In International Shipping News 24/10/2016
Hanjin Shipping Co Ltd said on Monday its European routes services have completely halted, and a Seoul court overseeing its receivership process has approved winding down four of its European units.
The four units, Hanjin Shipping Europe GmbH & Co, Hanjin Shipping Hungary Transportation Ltd, Hanjin Shipping Poland Sp and Hanjin Spain S.A., will begin winding down by early November using methods such as declaring bankruptcy or being liquidated, Hanjin said in a regulatory filing.
A spokesman for the Seoul Central District Court could not be immediately reached.
Source: Reuters (Reporting by Joyce Lee; Editing by Clarence Fernandez)
