A South Korean court declared Hanjin Shipping bankrupt on Friday, after ruling earlier this month that the firm’s liquidation value would be worth more than its value as a going concern. Hanjin Shipping, which had been the world’s seventh-largest container shipper, applied for court receivership in late August after its creditor banks halted further support.…
The axe finally fell on South Korea’s once-mighty Hanjin Shipping on Friday as a Seoul court declared it bankrupt after struggling for years under the weight of billions of dollars-worth of debt. Hanjin filed for bankruptcy protection in August owing $5.37 billion as creditors refused to bail it out, with dozens of its vessels stranded…
The axe finally fell on South Korea’s once-mighty Hanjin Shipping on Friday as a Seoul court declared it bankrupt after struggling for years under the weight of billions of dollars-worth of debt. Hanjin filed for bankruptcy protection in August owing $5.37 billion as creditors refused to bail it out, with dozens of its vessels stranded…
Ricardo Nissen, expert in corporate law and former head of the Inspección General de Justicia (IGJ). Friday, February 17, 2017 Ricardo Nissen is one of the most respected specialists in company law and asset concealment. Talking to the Herald, he agrees with his colleagues that this is…
SUBCONTRACTORS are banking on negotiations now under way to protect them from the worst of another major collapse in the Queensland construction industry. Bloomer Constructions Pty Ltd closed a number of building sites across Brisbane last week, ahead of what was expected to be an announcement Tuesday morning about the company’s fate. Instead, Wayne Bloomer,…
Hanjin Shipping, once the largest shipping company in South Korea and the seventh-largest in the world, has been declared bankrupt. The Seoul Central District Court declared the bankruptcy on Friday as the two-week period for appeal expired. The court will now appoint a bankruptcy administrator to lead the liquidation procedure to pay off debt. Creditors have until…
Hanjin Shipping, once the largest shipping company in South Korea and the seventh-largest in the world, has been declared bankrupt. The Seoul Central District Court declared the bankruptcy on Friday as the two-week period for appeal expired. The court will now appoint a bankruptcy administrator to lead the liquidation procedure to pay off debt. Creditors have until…
EX-STAFF of a prominent Mooloolaba restaurant will only receive about 13 cents for every dollar of superannuation they’re owed by former boss Todd Young. Mr Young hit Las Vegas with his partner just days after winding up Todd Young Investments Pty Ltd on December 29, 2015. His company operated Bella Venezia restaurant at Mooloolaba through…
Hanjin Shipping will be declared bankrupt today, after suffering from snowballing debt amid a slowdown in the global shipping market. Seoul Central District Court is expected to declare bankruptcy of the shipper, following a two-week period for appeals. Following the declaration, a bankruptcy trustee will be appointed to lead the sale of Hanjin Shippings remaining…
Creditfix, the UKs largest insolvency practice, compiles the UK Personal Debt Index (PDI). The quarterly report is put together following a survey of over 31,000 individuals, comparing the situation and locations of people across the UK currently receiving support to get out of debt. The number of young people (20-25 years old) receiving help and…