Accounting firm Samil PricewaterhouseCoopers told the Korean court overseeing the bankruptcy of Hanjin Shipping that liquidating the carrier would be “more economical” than continuing its rehabilitation, Korea’s Yonhap News Agency reported.
Accounting firm Samil PricewaterhouseCoopers told the Korean court overseeing the bankruptcy of Hanjin Shipping that liquidating the carrier would be “more economical” than continuing its rehabilitation, Korea’s Yonhap News Agency reported.
Yonhap said the accounting firm told the Seoul Central District Court on Tuesday that its liquidation value was 1.79 trillion won (U.S. $1.53 billion).
The court “is expected to push ahead with asset sales for the time being,” Yonhap said.
Meanwhile, the Wall Street Journal reported that a U.S. Bankruptcy Court Judge in Newark, N.J. told Hanjin that it must disclose all of its U.S.-based assets and any cash that has been transferred out of the country.
Hanjin liquidation ‘more economical,’ accountants say
