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Hanjin Shipping's Asia - US network to be put up for sale by Friday
Bankrupt Hanjin Shipping’s Asia – US network could put for sale as early as Friday according to South Korean Bankruptcy Court.
1 Min Read
Kalyakan - stock.adobe.com
The court plans to publish a notice in local newspapers as early as Friday detailing plans to sell the Asia – US network, Bloomberg reported, quoting a court spokesman.
The notice would provide details of bidding schedule and deadline for submission with an agreement expected to be signed by mid-November.
The sale would reportedly involve the employees, customers and some of the assets, including vessels, in Hanjin’s transpacific network.
Prior to filing for receivership at the end of August Hanjin was a major player in the transpacific with a 7% market share.
Samil Pricewaterhouse Coopers is advising on the sale the report said.
Read all the background to the Hanjin Shipping bankruptcy on our timeline
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