Lessons Learned From Hanjin Shipping's Bankruptcy

Law360, New York (November 1, 2016, 4:29 PM EDT) -- The global insolvency of Hanjin Shipping Co. Ltd. represents a case study of what can go wrong for an international transportation company that files for insolvency protection in an uncontrolled fashion and in the wrong country. The significant negative impact on international creditors as well as international commerce resulting from Hanjin’s filing suggests that a more deliberate and well-thought-out plan for future international transportation insolvency filings is imperative.

By way of background, Hanjin is the largest shipping company in South Korea and the world’s ninth-largest shipping company, operating approximately 60 regular lines worldwide. Hanjin’s business never fully recovered from both the...

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