Hanjin, South Korea’s largest ocean container shipper, will seek bankruptcy protection in 43 countries, including Canada, Germany and Britain, FSC officials said. It said South Korea will ask each country to expedite the “Stay Order” process. Hanjin sought bankruptcy protection in the U.S. and South Korea last week. At the ports of Long Beach and Los Angeles, the Hanjin bankruptcy is threatening local jobs and preventing merchants from accepting goods shipped from Asia. “What's most desirable, of course, is for Hanjin Shipping to revive itself.

Source: Los Angeles Times September 05, 2016 21:40 UTC