Recently, we talked about Singapore ship arrest laws and procedures as well as their practical effect in light of Hanjin Shipping Co. Ltds recent financial troubles. That article also mentioned that Hanjin had filed for bankruptcy protection, which has given some relief from their monetary woes.
But how does bankruptcy protection really benefit Hanjin? Is similar protection available in Singapore?
Bankruptcy protection for Hanjin outside Singapore
On 31 August 2016, Hanjin filed an application for rehabilitation proceedings to the Korean Bankruptcy Court and obtained temporary orders from the court to preserve Hanjins assets.
The very next day the Korean Court granted the order for the commencement of the rehabilitation procedure (the Korean…
Read the full article at: https://sg.finance.yahoo.com/news/singapore-debt-restructuring-hub-insolvency-092700020.html