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  1. Hanjin Shipping to take legal action to prevent ship seizures

Hanjin Shipping to take legal action to prevent ship seizures

South Korea's Hanjin Shipping Co Ltd will take legal action in about 10 countries this week to prevent its ships from being seized.

By: | Seoul | Published: September 5, 2016 11:10 AM
Hanjin Shipping aims to expand the scope as soon as possible, with plans to pursue legal action in 43 countries. (Reuters) Hanjin Shipping aims to expand the scope as soon as possible, with plans to pursue legal action in 43 countries. (Reuters)

South Korea’s Hanjin Shipping Co Ltd will take legal action in about 10 countries this week to prevent its ships from being seized, the country’s financial regulator said on Monday.

The countries include Canada, Germany and the U.K., the Financial Services Commission said in a statement.

Hanjin Shipping aims to expand the scope as soon as possible, with plans to pursue legal action in 43 countries, the regulator added.

Shares in Hanjin Shipping slumped by the daily limit of 30 percent in resumed trade on Monday as the South Korean shipping firm struggles to contain the fallout of its collapse.

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