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Cole Schotz Gains Recognition for Hanjin Shipping in Bankruptcy Court

December 13, 2016Attorney: Jacob S. Frumkin

Representing the Foreign Representative of Hanjin Shipping Co., Ltd., on December 13, 2016, Cole Schotz P.C. obtained final recognition of Hanjin’s Korean insolvency proceeding pursuant to Chapter 15 of the Bankruptcy Code, over the objections of numerous parties. Hanjin Shipping Co., Ltd., one of the world’s largest container shipping companies, commenced an insolvency proceeding in Korea on August 31, 2016. Shortly thereafter, Cole Schotz was successful in obtaining provisional relief to allow its U.S.-bound vessels to enter U.S. territory without fear of arrest or seizure. Tuesday’s decision by John K. Sherwood, presiding Bankruptcy Judge, formally brings Hanjin under the protection of U.S. bankruptcy law.

The Cole Schotz team was led by Ilana Volkov, Edward Kiel and Jacob Frumkin.
 

 

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