5 Key Questions Raised By Hanjin Shipping's Bankruptcy
Law360, New York (September 16, 2016, 7:16 PM EDT) -- South Korean container carrier Hanjin Shipping Co. Ltd.'s sudden bankruptcy has sparked a scramble among shipowners, suppliers, carriers, terminal operators and ground transportation providers to stake their claims on billions of dollars' worth of stranded cargo, property and equipment.
The world's seventh-largest container carrier filed for court receivership in South Korea on Aug. 31, immediately stranding an estimated $14 billion worth of goods and cargo at sea and triggering confusion over how to untangle the logistical mess that's now disrupted the global network of companies producing, handling and distributing goods and products and driven up costs for freight shipments.
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