Hanjin shares jump 25% as US assets go on sale

Hanjin shares jump 25% as US assets go on sale
 

Shares in Hanjin Shipping have surged on the news that the process to sell its US assets will begin on Friday.
Hanjin's shares jumped as much as 25% following the announcement, which was made by the court overseeing the company's receivership process.
The company applied for receivership in August after creditors had pulled their support for the heavily indebted firm.
Hanjin Shipping is 6tn won ($5.4bn, £4.1bn) in debt and the asset sale will be used to pay back creditors.
According to the Reuters news agency, the spokesman for the Seoul Central District Court said the deadline for binding... read more

 
13 October 2016 in Business, Views: 38
Source: BBC
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