Hanjin Shipping Files for Court Protection After Revamp Rejected

  • Rival Hyundai Merchant’s stock jumps 26% on Hanjin move
  • Regulator says Hyundai Merchant may buy Hanjin’s assets

Hanjin Shipping Files for Receivership

After failed efforts to secure credit and tide over a cash shortage, Hanjin Shipping Co. applied for court protection on Wednesday. The fall of South Korea’s biggest container shipping line has spurred a rally in the shares of rival Hyundai Merchant Marine Co.

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