Hanjin Shipping filed for U.S. bankruptcy protection: WSJ
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
SEOUL (Reuters) - Troubled container shipper Hanjin Shipping Co Ltd <117930.KS> has filed for bankruptcy in the United States to protect its vessels from being seized by creditors, the Wall Street Journal reported, citing a filing by the South Korean firm.
The Wall Street Journal, in a report dated Sunday, said Hanjin filed for protection under chapter 15 on Friday to a court in New Jersey. Hanjin filed for court receivership on Wednesday after its creditor banks decided to end financial support for South Korea's top container shipper.
Hanjin's shares are set to resume trading on Monday.
(Reporting by Se Young Lee; Editing by Stephen Coates)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BlackBerry launches its third Android-based phone
- U.S. self-driving sensor maker Savari announces partnership with China's SAIC Motor
- Juppe widens lead over Sarkozy for French primaries: poll