Intelligence

Seoul Central District Court terminated the rehabilitation proceedings of Hanjin Shipping yesterday on February 2, 2017 following public announcements by Hanjin Shipping . . .

On September 12, 2016, the Bankruptcy Division of the Seoul Central District Court in charge of the rehabilitation proceedings of Hanjin Shipping Co., Ltd. amended the initial schedule of the rehabilitation proceedings as follows:

Seoul Central District Court, or the Korean bankruptcy court handling rehabilitation proceedings of Hanjin Shipping Co., Ltd. (Hanjin Shipping) recently took several noteworthy measures.

Please be advised that the initial rehabilitation schedule has been postponed as described above, and it is necessary for the interested parties to exercise their rights within the amended due dates set forth above.

The going concern value and the liquidation value to be stated on the inspection report will serve as a decisive factor in evaluating whether rehabilitation proceedings of Hanjin Shipping may continue.

Hanjin Shipping Co., Ltd. ("Hanjin"), South Korea's largest shipping operator, has applied for rehabilitation proceedings with the Seoul Central District Court (the "Court") on August 31, 2016.