Hanjin insolvency set to be significant event for market

Craig Neame, George Eddings and Matthew Wilmshurst, of Holman Fenwick Willan, look at the latest developments as Hanjin Shipping Co files for insolvency protection in the South Korean courts


The filing of Hanjin Shipping Co for insolvency protection in the South Korean courts ranks as one of the most significant events to impact on container shipping in recent years. Much has been made of the major short-term knock-on effects but only time will tell if there will be a lasting change to the industry as a whole. A lot happened in the first three weeks since the formal rehabilitation proceedings were commenced. In this article we review some of the developments of those weeks, and the current position.