1 Min Read
SEOUL (Reuters) - The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated.
Judge Choi Ung-young, who serves as a court spokesman for media inquiries on the case, said a sale is possible in principle if it's deemed the best way to rehabilitate the company, but the court has yet to reach a decision.
The spokesman's comment came after Bloomberg reported earlier on Wednesday that the court has decided a sale of Hanjin Shipping is needed.
Hanjin, which filed for court receivership on Aug. 31, must submit a rehabilitation plan to the court in December.
Reporting by Joyce Lee; Editing by Kenneth Maxwell