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News ID: 71417 |
Publish Date: 15:46 - 07 January 2017

Hanjin Shipping’s Debts Announced

Creditors of Hanjin Shipping, which has been in receivership since 1 September 2016, have registered claims totalling KRW31 trillion with the Seoul Central District Court.

Hanjin Shipping’s Debts Announced
According to MANA, The figure was revealed ahead of the first scheduled meeting between Hanjin’s representatives and its creditors on 13 January.
Of the KRW31 trillion registered, KRW17.67 trillion is from commercial transactions with Hanjin Shipping, KRW9.63 trillion from loans, KRW1.41 trillion from corporate bonds, and KRW445.5 billion from amounts due to related parties. A further KRW13.2 billion relates to outstanding taxes.
When Hanjin filed for court protection on 31 August 2016, the company had over USD5 billion of debt.
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