South Korea court says it has not yet decided whether sale of Hanjin Shipping is needed

EghtesadOnline: The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated.

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28 September 2016

Judge Choi Ung-young, who serves as a court spokesman for media inquiries on the case, said a sale is possible in principle if it's deemed the best way to rehabilitate the company, but the court has yet to reach a decision.

According to Reuters, the spokesman's comment came after Bloomberg reported earlier on Wednesday that the court has decided a sale of Hanjin Shipping is needed.

Hanjin, which filed for court receivership on Aug. 31, must submit a rehabilitation plan to the court in December.