Hanjin bankruptcy – revised timetable for lodging claims

On 12th September 2016, the Korean Bankruptcy Court ordered that the original timetable for creditors to report claims and the receiver to submit the Hanjin rehabilitation plan should be revised.

The revised scheduled is as follows:

  Original for 2016 Revised for 2016

The receiver’s presentation of creditors’ list

1 September - 19 September 1 September – 10 October
Claim reporting period  20 September – 4 October 11 October – 25 October
Claim inspection period  5 October – 18 October 26 October – 15 November
The receiver’s submission of rehabilitation plan By and until 25 November By and until 23 December

Whilst it is unlikely that there will be any further revision, although we understand that provided that a failure to lodge a claim by the revised deadline is justifiable, there may be a further opportunity before the end of the 2nd Creditors’ Meeting (as yet unscheduled).

Our thanks to Kwon & Moon law firm in Korea for the updated information.

This comes amidst news that the board of Korean Air Lines – Hanjin’s biggest shareholder – approved a loan of 60bn Korean won ($54m; £41.5m) for the troubled shipping firm.