Hanjin gets US court order and cash to unload some stranded vessels
NEWARK bankruptcy Judge John Sherwood has issued an order that prevents creditors from seizing Hanjin ships or property, and allows cargo owners to make arrangements to recover their goods, Reuters reports.
Bankruptcy-bound Hanjin Shipping received authority to spend the money needed to dock at US ports and begin unloading four vessels that have been stranded at sea by the company's failure last week.
"We have the money," said Hanjin lawyer Ilana Volkov told a US Bankruptcy Court in Newark. "We want to call these ports and say, please accept our ships and we want to pay for the services to work the ships."
Ms Volkov said at least US$10 million was authorised by a Korean court to begin servicing the four ships. Hanjin identified 14 US-bound ships in court papers, but Ms Volkov said she did not have information about the other vessels.
The four US-bound ships are the Hanjin Boston, Hanjin Greece, Hanjin Jungil and Hanjin Gdynia.
Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms refuse to work for Hanjin, the world's seventh-largest container carrier, which filed for receivership in a Seoul court last week.
NEWARK bankruptcy Judge John Sherwood has issued an order that prevents creditors from seizing Hanjin ships or property, and allows cargo owners to make arrangements to recover their goods, Reuters reports.
Bankruptcy-bound Hanjin Shipping received authority to spend the money needed to dock at US ports and begin unloading four vessels that have been stranded at sea by the company's failure last week.
"We have the money," said Hanjin lawyer Ilana Volkov told a US Bankruptcy Court in Newark. "We want to call these ports and say, please accept our ships and we want to pay for the services to work the ships."
Ms Volkov said at least US$10 million was authorised by a Korean court to begin servicing the four ships. Hanjin identified 14 US-bound ships in court papers, but Ms Volkov said she did not have information about the other vessels.
The four US-bound ships are the Hanjin Boston, Hanjin Greece, Hanjin Jungil and Hanjin Gdynia.
Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms refuse to work for Hanjin, the world's seventh-largest container carrier, which filed for receivership in a Seoul court last week.