September 4, 2016 / 11:47 PM / a year ago

Hanjin Shipping filed for U.S. bankruptcy protection: WSJ

SEOUL (Reuters) - Troubled container shipper Hanjin Shipping Co Ltd 117930.KS has filed for bankruptcy in the United States to protect its vessels from being seized by creditors, the Wall Street Journal reported, citing a filing by the South Korean firm.

A crane carries a container from a ship of Hanjin Shipping at Hanjin container terminal at the Busan New Port in Busan, about 420 km (261 miles) southeast of Seoul in this August 8, 2013 file photo. REUTERS/Lee Jae-Won/File Photo

The Wall Street Journal, in a report dated Sunday, said Hanjin filed for protection under chapter 15 on Friday to a court in New Jersey. Hanjin filed for court receivership on Wednesday after its creditor banks decided to end financial support for South Korea’s top container shipper.

Hanjin’s shares are set to resume trading on Monday.

Reporting by Se Young Lee; Editing by Stephen Coates

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