Hanjin creditors can expect little more than 2 cents on the dollar

August 11, 2017

Hanjin Shipping creditors stand to get two cents on every dollar owed, a company lawyer told a New Jersey bankruptcy court. The statement was made by counsel for the trustees charged with untangling the affairs of South Korean’s biggest ocean carrier, the bankrupt Hanjin Shipping. Claims totalling US$10.5 billion have been made, but the company has recovered only $220 million, reported IHS Media.

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