Hanjin officially declared bankrupt

hanjin

Hanjin Shipping has been officially declared bankrupt.

On Friday the Seoul Central District Court said Hanjin would be liquidated and appointed attorney Kim Jin-han as its trustee.

Hanjin filed for receivership on 31 August 2016.

The 40-year history of the world’s former No. 7 shipper, which once boasted more than 1,300 employees and a massive fleet of 97 container ships and 44 bulk carriers, officially came to an end. The bankruptcy is the biggest ever to hit the container shipping sector in over 50 years of its existence.

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